– Panic due to sharp fall of Sensex-Nifty
– Negative signals from global markets
– These big shares made a splash as soon as they opened

New Delhi . Thursday morning brought a double blow for investors. On one hand, the prices of gold and silver fell in the commodity market, while on the other hand, a storm of selling was seen in the stock market as soon as it opened. After two days of rise, suddenly the momentum of Sensex and Nifty stopped and both the major indices crashed. This stampede in the market increased the concern of investors.

The beginning of trading in the stock market was weak. BSE’s 30-share Sensex opened at 83,757.54 compared to its previous close of 83,817.69, but the fall intensified within a few minutes. Within no time, the Sensex fell by more than 500 points and reached the level of 83,313.
Similarly, NSE’s Nifty also appeared under pressure. After opening at 25,755.90 against the previous close of 25,776, Nifty suddenly fell 164 points to 25,612.90. Foreign signals also had a clear impact on Indian markets. Gift Nifty was already indicating a fall of more than 100 points.

Weakness was also seen in Asian markets. Japan’s Nikkei fell by more than 500 points, Hong Kong’s Hang Seng fell by 350 points and South Korea’s Kospi index was seen trading with a fall of about 180 points. The negative sentiment created globally weakened the morale of domestic investors.

The sudden fall in the market affected almost all sectors. Among largecap stocks, Indigo, BEL and Eternal fell by about 2 to 2.30 percent. In the midcap segment, a decline of 8 percent was recorded in Tea India, 5 percent in Dixon and 3 percent in UPL. There was heavy selling in small cap stocks too and stocks like Redington, Timken and MCX fell by 4 to 5 per cent.

Apart from this, big stocks like Reliance, Bajaj Finance, Adani Ports, Tata Steel and HDFC Bank were also seen trading in the red zone.

Gold-silver chaos
Along with the stock market, there was huge turmoil in the commodity market also on Thursday. Gold and silver prices crashed as soon as they opened on the Multi Commodity Exchange (MCX). The price of 1 kg silver with March 5 expiry fell by more than Rs 24,000 compared to the previous close. At the same time, gold with expiry on April 2 also became cheaper by about Rs 2,400. This big fall in the stock market and commodity market simultaneously has alerted investors. According to experts, due to global cues, profit-booking and uncertain economic environment, the market may remain volatile at present.