Stock market slides for consecutive days
There was heavy selling in the Indian stock market on Wednesday, the third trading day of the week. Investors have suffered huge losses due to the fall in both Sensex and Nifty. At the end of trading, the Sensex closed at 60,098.82 points, down 656.04 points or 1.08 per cent. On the other hand, if we talk about Nifty, it has fallen 174.65 points or 0.96 percent to the level of 17,938.40 points.
Infosys was the biggest loser in the top 30 stocks of the BSE index. Apart from Infosys, Asian Paint, HUL, Nestle, Bajaj Finance fell over 2 per cent. Stocks of Wipro, Kotak Bank, TCS, ICICI Bank, UltraTech, HCL, HDFC, Airtel also declined by more than 1 per cent. The shares of SBI, Tata Steel, Maruti have increased by more than 1 percent.
What is the reason?
The main reason for the sell-off in the stock market is the global crude oil prices. Crude oil prices are expected to continue rising due to rising geopolitical tensions and supply-side constraints.
Paytm fall’s again
During the trading, the stock of Paytm has once again registered a decline. The stock price of Paytm fell to Rs 990, which is an all-time low. The stock price at the close of trading was Rs 997.35 and was down 4.33 per cent. It has been almost 2 months since Paytm got listed in the stock market. The stock price of the company is about 54 per cent lower than its issue price.
