Stock Market Opening Bell Updates Sensex Tumbles Over 400 Points Nifty Drops Below 18,400; Selling force in the stock market
Indian markets opened with a decline
At the beginning of the week, the Indian stock market started with a fall. The BSE Sensex opened with a fall of 406 points while the Nifty opened down 111 points at 18,385 points.
Market position in pre-opening trades
The market witnessed a decline in the trading session prior to the opening of the market, after which the market showed signs of a bearish start. The BSE Sensex was seen trading down 0.66 percent at 411 while the Nifty was trading down 94 points at 18,402.
Sales by foreign investors
4,300 crore was sold by foreign investors last week. FIIs sold Rs 5,657 crore in December. At the same time domestic investors have bought. DII has procured Rs.3710 crores.
Retail Inflation Statistics
The retail inflation rate and industrial production rate i.e. IIP figures will be released today, which will determine the direction of the market. The retail inflation rate is estimated to be around 6.4 percent in November.
Uniparts India Catalog
Engineering manufacturing company Uniparts India is expected to list on the stock exchange today at a premium of 10 per cent to the share issue price. Earlier Uniparts India’s IPO was oversubscribed 25.32 times. The company had fixed the IPO price at Rs.577.
Fall in crude oil
One of the biggest signals for the Indian market has been falling crude oil prices. Crude oil is trading at $76.10, down 11 percent over the past week. Crude oil prices in the market are expected to fall further to $70 to $72 per barrel. A sustained fall in crude oil prices could provide major relief on the inflation front.
