Stock Market / Stock market broken amid weak global cues, Sensex slips 500 points, Nifty below 17200

On Monday, the first trading day of the week, the last week's lethargy was visible on the stock market and both the indices opened on the red mark. The Bombay Stock Exchange (BSE) 30-share index Sensex lost 228 points to open at 57,604 level. On the other hand, the Nifty index of the National Stock Exchange (NSE) started trading at the level of 17,198, gaining 77 points. The Sensex has broken more than 500 points during the hour-long trading. At present, the Sensex slipped 518 points at the level of 57,314, while the Nifty is trading at the level of 17,110 with a fall of 165 points.

There was a slight decline on Friday

Last trading session on Friday, the stock market finally closed on the red mark after day's volatile trading. Sensex closed 59 points lower at 57,833, while Nifty slipped 28 points to close at 17,276 level. Significantly, in the week ended February 18 also, the Indian equity market remained on the red mark with a fall. This is the second consecutive week that the market is in a downward spiral. In this week, the BSE Smallcap index lost more than 3 per cent, while the Midcap index lost 2 per cent. Talking about the large cap index, it has registered a decline of 0.7 percent.

These are the main reasons for this decline

If we look at the reason for the bad phase of the stock market, which has continued for two consecutive weeks, then rising geopolitical tensions, rise in crude oil prices and continuous selling of foreign institutional investors (FIIs) have been the main reasons for the fall. It is worth noting that last week the market started with the biggest one-day fall in a year, although after that some recovery was seen the next day. But this rise was only for one day and in the remaining 3 days of the week, the market again saw a decline.