On the first trading day of the week i.e. Monday the stock-market opened on a shaky note. Both the BSE and the NSE saw a decline during opening trade on Monday morning.
At the time of writing this report, the BSE Sensex was trading at 52,701.48 points, down 422.83 points or 0.74 percent. Meanwhile, BSE Sensex as well as the NSE Nifty started the first trading day of the week with a weak note. During the opening trade on Monday, the NSE traded lower by 128.40 points, or 0.76 percent, at 16,875.35 points.
Shares of only five companies POWERGRID, SUN PHARMA, DR REDDY, NTPC, and M&M were up in the Sensex Panic at 9:24 a.m. during Suh’s opening trade. Baki, TCS, ULTRACEMCO, LEST, HCL TECH, HINDUNILVR, WIPRO, HDFC, BHARTIARTL, TATASTEEL, RELIANCE, ITC, SBIN, TECHM, TICAN, MARUTI, ICICBANK. And shares of INDUSINDBK were trading with a red mark.
Last week, the stock-market closed with a decline in its last trading. The BSE Sensex closed 191 points lower on Friday during the last close. The 30-share Sensex fell by 190.97 points, or 0.33 percent, to close at 57,124.31 points in volatile trading. Similarly, the Nifty of the National Stock Exchange fell by 68.85 points, or 0.40 percent, to close at 17,003.75 points.
“The sharp drops in stock prices of listed new-age tech companies across the world is quite scary. If history is a guide, only a small per cent of them will maybe bounce back,” the Zerodha CEO said on Twitter on Saturday.