According to the Nifty Tips, expert says Due to falling in Asian markets and weakness in rupee, the start of Indian stock markets also declined. Within the first half hour, the Sensex lost 270 points and the Nifty nearly 90 points. However, there was some strength in the market later, but it could not last long. At the moment, the Sensex is trading 200 and the Nifty is trading 70 points down. The highest decline is seen in IT stocks. Besides, there is pressure on energy, pharma and PSU bank stocks too.
Most falling stocks
Talk about the Nifty 50 Asian paint has seen a decline of more than 5%. On the other hand, Hindustan Petroleum (HPCL) was trading 4%, BPCL 3.25%, IOC 3%, and ONGC dipped 2.50%.
Nomura gave a shock to IOC, HPCL, BPCL
Nifty Tips, expert says With the decision to downgrade by Nomura, the government oil marketing companies, IOC, HPCL and BPCL, declined by 4 percent. Global Brokerage House said that the shares of these government companies have been downgraded due to subsidy and populist measurements. Nomura has reduced the ratings of IOC, HPCL, BPCL to 'neutral' by 'bai'.
The effect of these Global Factors
In fact, due to concerns about the US Earnings Season and the Negative Factors of Saudi Arabia's Diplomatic Dispute, the Asian market opened on Tuesday due to the fall. On the other hand, the rupee has lost 21 paise to 73.77 against the dollar as the continuous flow of capital and dollar strengthened.
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