Financial Insights

Nifty falls below 17,000 and Sensex below 57,000 amid selling pressure

Both Nifty and Sensex were trading well on 19th April when they faced sudden selling pressure by foreign investors on 2:45, tumbling both indices by over 1%.

Sensex closed below 57,000, down 1.7%, and Nifty breached 17,000, down 1.79%. Interestingly, the fall was in a span of only 45 mins.

Rising inflation, Russia’s revamped attacks on Ukraine, covid’s return and unstable geopolitical conditions drained investor confidence.

HDFC, HDFC Bank and Infosys were among the biggest losers, falling over 3% each. Reliance Industries, Bajaj Finance, SBI and ICICI Bank were the only gainers for the day. Their poor quarterly performance were one of the main reasons they faced such selling pressure.

Tokyo and Seoul markets were up while Shanghai, Hong Kong and European market closed lower. Oil benchmark Brent fell 1.39% and Rupee slipped 22 paise.

The stocks have currently recovered and both indices are trading at yesterday’s levels or marginally lower.

Highlight by Aman Agarwal.

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