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Why is stock market falling today? 4 factors dragging Nifty, Sensex
Indian stock market traded lower as Nifty and Sensex fell amid weak market sentiment, rising crude oil prices and a weaker rupee.
Key points
- The Indian stock market traded lower on October 22 due to weak market sentiment, rising crude oil prices, and a weaker rupee.
- The BSE Sensex dropped 489.11 points to trade at 73,220.58 at around 12:02 pm.
- The NSE Nifty 50 fell 187.15 points to trade at 22,624.20 during the session.
Why it matters. Rising crude oil prices and a weaker rupee added to concerns about the Indian economy and corporate profitability.
The Indian stock market traded lower on October 22, driven by weak market sentiment, rising crude oil prices, and a weaker rupee. Selling pressure impacted the broader market following a sharp fall in the previous session. The BSE Sensex and NSE Nifty 50 both recorded significant losses during trading.
Latest updates
Why is stock market falling today? 4 factors dragging Nifty, Sensex
Indian stock market traded lower on October 22, amid weak market sentiment, rising crude oil prices and a weaker rupee. Selling pressure was visible in the broader market after the sharp fall in the previous session. The Indian stock market traded lower on Thursday, October 22, amid weak market sentiment, rising crude oil prices and a weaker rupee. Selling pressure was visible in the broader market after the sharp fall in the previous session. At around 12:02 pm, the BSE Sensex was trading at 73,220.58, down 489.11 points, or 0.66 per cent. The index opened at 73,343.33 and touched an intraday high of 73,720.83 and a low of 73,005.11. The NSE Nifty 50 was trading at 22,624.20, down 187.15 points, or 0.82 per cent. It opened at 22,687.75 and moved between an intraday high of 22,785 and a low of 22,554.85. Top gainers and losers On the NSE, Bajaj Finance was the top gainer among the stocks listed in the data, rising 1.11 per cent to Rs 936.25. Larsen Toubro gained 0.75 per cent to Rs 3,663.30, while ICICI Bank rose 0.36 per cent to Rs 1,390. Bharti Airtel gained 0.22 per cent to Rs 1,895.90, Bajaj Auto rose 0.21 per cent to Rs 10,093, and State Bank of India edged up 0.12 per cent to Rs 964.20. On the losing side, Nestle India fell 2.93 per cent to Rs 1,188. Tech Mahindra declined 2.71 per cent to Rs 1,785, while Tata Motors Passenger Vehicles (TMPV) dropped 2.54 per cent to Rs 2.
Stock Market Today Live Updates: Sensex, Nifty may open lower as oil prices, global cues weigh on sentiment
Benchmark indices will remain in focus as investors assess whether domestic equities can stabilise after two consecutive sessions of losses. The Sens Rupee rallies 53 paise to six-week high Rupee strengthened 53 paise to close at 94.38 against the US dollar on Wednesday, supported by foreign currency inflows linked to Reliance Industries’ Jio Platforms IPO and intervention by the Reserve Bank of India. The currency opened at 94.78, touched an intraday high of 94.35 and a low of 94.82 before settling at its strongest level in around six weeks. However, weak domestic equities and elevated crude oil prices continued to pose risks to the currency’s gains. Anuj Choudhary, research analyst at Mirae Asset Sharekhan, said the rupee could maintain a positive bias amid broad dollar weakness and softer US Treasury yields. The USD-INR spot rate is expected to trade in a range of Rs 94.20 to Rs 94.80, he said. .Stock market recap: Sensex, Nifty reverse early gains to end lower Benchmark indices closed lower on Wednesday for a second consecutive session as selling in power, banking and financial stocks offset early gains. BSE Sensex declined 143.21 points, or 0.19%, to settle at 73,709.69, despite rising as much as 829.29 points to an intraday high of 74,682.19 before noon. Profit booking dragged the index more than 1,450 points from its high to a low of 73,229.45, before some late buying he.
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