Vikrant Shekhawat : Feb 03, 2025, 10:02 AM
Share Market News: After the budget on Monday, the Indian stock market witnessed a huge decline. Both Sensex and Nifty registered a sharp decline. Global markets witnessed weakness after the US announced tariff hikes on China, Canada and Mexico, which also affected the Indian stock market. In early trade, the Sensex fell 700 points to 76,827.95, while the NSE Nifty fell 207.90 points to 23,274.25.Effect of decline in marketAs soon as the market opened, the decline in the major indices intensified. There was pressure in the stocks of banking, IT and auto sectors, due to which investors suffered heavy losses. The 30-share Sensex of the Bombay Stock Exchange started at 77,063.94, down from the budget day's closing of 77,505.96, and within a few minutes it fell by 700 points. Similarly, Nifty also opened at 23,319, down from the previous closing of 23,482.15.Heavy loss to investorsInvestors suffered heavy losses due to this fall in the stock market. The total market capitalization of companies listed on the BSE fell to Rs 419 lakh crore from Rs 424 lakh crore in the previous trading session. Thus, investors lost about Rs 5 lakh crore within just 5 minutes.Weakness in global marketsThe decline in US markets also continues. US Dow futures closed with a decline of 550 points, while Dow Jones fell by 337 points, S&P 500 by 30.64 points and Nasdaq by 54 points. Uncertainty has increased in global markets due to tariff hike, which has also affected the sentiment of Indian investors.Future prospectsMarket experts believe that investors should maintain patience and keep an eye on global developments. The upcoming Monetary Policy Committee (MPC) meeting of the Reserve Bank is expected to provide relief to the market. If there is any significant change in interest rates, it can play an important role in determining the direction of the market.