After 7 days of stormy growth, the stock market crashed again!
After seeing a boom in business for the seventh consecutive day in the indian stock market, today on march 26, by noon, both the benchmark equity index BSE Sensex and Nifty declined. With this, the seven-day rise came to a halt. The reason behind this is the sharp decline in pharma and IT stocks.
Investors panicked due to this
By noon, the Sensex was at the level of 77,644.57 with a decline of 372.62 points or 0.48 percent, while the Nifty fell 86.65 points or 0.37 percent to 23,582.00. On one hand, while 1104 stocks gained momentum, 2321 stocks declined. There was no change in 111 stocks. Speaking to Moneycontrol, VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, "Despite the date of reciprocal tariff on april 2 approaching, the market has become resilient, which indicates further growth. This will happen only when the possibility of imposing reciprocal tariffs is reduced. If the ongoing talks between the two countries yield a positive outcome."
trump gave another threat
Investors are uncertain about the US reciprocal tariff. However, it is expected that trump may reduce the tariff on India. Meanwhile, trump on monday also threatened to impose an additional 25 percent tariff on countries like india and china if they import oil from Venezuela. This has increased the concerns even more. The broader market saw a mixed trend, with the Nifty Midcap 100 index gaining 0.2 percent, the Smallcap 100 index falling 0.45 percent.
Sector wise performance was like this
If we look at the sector wise, Nifty auto was the top performer with a gain of 0.7 percent. Shares of companies like M&M, Tata Motors and Eicher Motors rose. Nifty Metal and PSU bank also rose by 0.4 percent. On the other hand, Nifty Pharma suffered the biggest loss, which was down by 0.7 percent. Nifty IT, bank and Realty also declined by 0.3 percent.
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