Today, on the second trading day of the week i.e. Tuesday, the stock market closed on the red mark. The Bombay Stock Exchange's flagship index Sensex closed down 465.01 points, or 0.95 percent, at 48,253.51. On the other hand, the National Stock Exchange's Nifty closed at 14,496.50, down 137.65 points, or 0.94 percent. The Sensex had risen by 903.91 points, or 1.88 percent, in the previous week.
Goldman Sachs slashes growth projections for FY 2021-22
US brokerage firm Goldman Sachs lowered India's economic growth forecast for FY 2021-22 from 11.7 percent to 11.1 percent in view of the outbreak of the coronavirus epidemic and the lockdown enforced in several states and cities. The second wave of Coronavirus infection in India has taken a terrible form. Due to this, the demand for a strict lockdown has also started increasing in the entire country, however, considering the economic loss, the Modi government has so far avoided this move. Goldman Sachs said in a report, 'The intensity of the lockdown is lower than last year. Nevertheless, the effect of strict restrictions in major cities of India is clearly visible. '
Reliance shares fall strongly
Investors are not happy with the quarterly results of Mukesh Ambani's Reliance Industries. The company's stock declined on Tuesday as well. It closed 41.05 points (2.10 percent) at the level of 1,918.00. Whereas it closed at the level of 1956.05 on the previous trading day. It may be noted that Reliance Industries released the financial results for the January-March quarter on Friday evening. The company's consolidated net profit in the fourth quarter increased 129 percent to Rs 14995 crore.
This week, the market will be determined by these factors
The movement of the country's stock markets during the week will be determined according to the situation on the Kovid-19 front, macroeconomic data, quarterly results of the companies, and trends created globally. Analysts believe so. He believes that the state assembly election results will hardly have any impact on the market, but the developments in the Kovid-19 front during the week and the central and state government's strategy to deal with this situation will have an impact on the market.
Such was the situation of veteran shares
Talking about the big stocks, today the shares of SBI Life, BPCL, ONGC, Adani Ports, and Bajaj Finance closed on the green mark. The shares of Tata Consumer, Cipla, Doctor Reddy, and Divis Lab closed at the red mark.
Sectoral index tracking
If we look at the sectoral index, today all the sectors, except PSU bank, closed on the red mark. These include IT, FMCG, Metal, Auto, Pharma, Media, Pharma, Realty, Private Banks, Banks, and Finance Services.
The market was open on the green mark
The Sensex opened 267.74 points (0.55 percent) higher at 48986.26 in early trade. At the same time, the Nifty opened at 14718.50 with a rise of 84.30 points, or 0.58 percent.
The stock market closed at a flat level on Monday
The stock market closed flat on Monday. The Sensex was down 63.84 points, or 0.13 percent, to close at 48718.52. At the same time, the Nifty closed at the level of 14634.15 with a marginal rise of 3.05 points or 0.02 percent.