At 10.24 am, the Sensex was trading at 77,503.54, down 204.98 points or 0.26%. The Nifty closed down 43.20 points or 0.18% at 24,195.30.
Markets End Lower: Sensex falls over 300 points, Nifty below 24, 200: The growing crisis in West Asia has increased global investors’ concern. Its impact is now visible in the domestic stock market. Domestic benchmark indices Sensex and Nifty opened flat on Tuesday. The BSE Sensex slipped 300 points while NSE Nifty closed below 24, 200.
The stock market fell for the second day in a row. At 10.24 am, the Sensex was trading at 77,503.54, down 204.98 points or 0.26%. The Nifty closed down 43.20 points or 0.18% at 24,195.30.
Stock benchmarks Sensex and Nifty were trading a tad lower on July 21 due to various reasons, including firmer oil prices and continued weakness in HDFC Bank.
Key factors behind market decline
1) Higher oil prices: Brent glided around $90 a barrel as markets weighed reports of US-Iran mediation against fresh attacks and Houthi threats to blockade Saudi Arabia.
2) FII selling: Foreign portfolio investors sold Indian equities worth Rs 1,121 crore on Monday, while domestic institutional investors bought shares worth 13.12 billion rupees, according to provisional NSE data.
3) Technical reason
4) Fall in HDFC Bank: The heaviest stock on the benchmarks, HDFC Bank, fell 1.3%. It slid 5.1% on Monday — its biggest drop in four months after its June quarter margins disappointed.
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