There has been an outcry among investors due to the fall in the stock market for 5 consecutive days. 8.04 lakh crores of investors have drowned in the last 5 business days. During this period, the Sensex has fallen by 2,063 points and the Nifty by 617 points. On the day of the weekly expiry, the Sensex fell 585 points and the Nifty fell 163 points on Thursday, closing at a 3-week low.
In fact, the boom in the market after the budget disappeared in the last few days due to heavy downfall. The stock market has once again reached the level around the budget day. On Thursday, the Sensex closed at 49,216 and the Nifty closed at 14,557.85. Whereas on the budget day i.e. February 1, the Sensex closed at 48,600.61 and the National Stock Exchange’s Nifty at 14,281.20.
The biggest selling pressure in the stock market was seen on IT, Pharma, Oil-Gas, Realty, Metal and Auto Shares. While the market had a strong start on Thursday. But the market failed to maintain the lead and was shattered from under profit-booking pressure. Now let us know what is the reason for the continuous decline in the stock market?
Rising Bond Yield The
sudden surge in US bond yields led to a sell-off in the equity market. The US 10-year bond yield has gone above the level of 1.7 with an increase of 5 per cent. Because of which the difference between India’s earning yield and US bond yield has reduced a lot. Because of this, foreign investors are pulling their hands from Indian markets.