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Sensex Slumps Over 300 points- Market Stepping Downwards
Market Graph Moving downwards
In the last session of the week, due to negative signals from Asian Market there is slump in domestic market. The major index of BSE Sensex drop down by 300 points and reached to 2546.2 points and the major index of NSE Nifty drop down by 66 points and reached to 7834 points. Today almost all indexes are trading on red signal. Also there is a high downfall in metals and banking sector too. Bank nifty has dropped with one percent and reached to 16734 points and 1.5 percent of decline in metal index. Out of 50 shares in Nifty only 6 are trading with green signal and other 44 are trading with a heavy downfall. Top five losers of Nifty are Eicher Motors, Dr Reddy, ICICI Bank and Bharti Airtel. With high Business, the top five gainers of Nifty are HCL Tech, TATA Motors, Adani Ports, Idea and BPCL. These all stocks have jumped over 1 to 1.5 percent. Adani Ports, Asian Paints, Tata Motors and ITC are top gainers while HUL, ICICI Bank, Tata Steel, BHEL and Bharti Airtel are losers in the Sensex. According to the experts, due to Mauritius tax treaty, recession was seen in markets and market down assumption was made. However for Indian Markets this tax treaty is useful and are expecting some positive signals for the markets.