Share Market Updates: In the Indian stock market (Stock Market) For the fifth day in a row, the decline was also seen on Thursday. The Sensex has lost 1158 points. With this, the Sensex closed at 52,930. At the same time, the National Stock Exchange (NSE) The Nifty also fell 359.10 or 2.22% points to close at 15,808.90. Bombay Stock Exchange (BSE) The Sensex was down 1356.55 points at 52,731.84 at 2.30 pm, while the National Stock Exchange Nifty was down 428 points at 15,738.90. The biggest decline was in banking stocks.
Earlier, the Bombay Stock Exchange (BSE) Sensex fell 480 points to 53,608.35. At the same time, the Nifty on the National Stock Exchange (NSE) also opened 181 points lower at 15,935.20.
The BSE Midcap and Smallcap indices also declined. The midcap index fell 495.84 points, or 2.24%, to close at 21,645.13. The smallcap index fell 500.41 points, or 1.96%, to close at 24,995.51. The biggest drop in midcap was 15.61% in Venus Remedies.
Rupee reached all time low
Today, the Indian rupee has reached a new low against the dollar. The rupee opened 27 paise lower at 77.17 today and touched 52 paise at 77.42. According to experts, depreciation and inflation in the global equity market is having an effect on the rupee.
These are the reasons for the decline in the market
Most experts attribute the decline in the market to a weaker rupee, lockdowns due to the Coro transition, rising inflation, the Russia-Ukraine war, cuts in palm oil imports and rising crude oil prices. Market worries have been heightened by the rupee’s weakness and tight lockdown in China due to the corona.
Allotment of shares of LIC today
LIC IPO was open for investment till May 9. Now that the IPO has closed, the allotment of shares is taking place today, i.e. on May 12. Meaning today you will know whether the shares have been found in the IPO or not. Following this, the LIC IPO will be listed on the stock exchange on May 17.
RBI’s tough stance on inflation
Meanwhile, sources said that the RBI’s stance on inflation has tightened. The RBI may raise rates again in the coming days. According to sources, inflation has become the biggest threat at the moment and the RBI will continue to take steps for the next six to eight months to control it.
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