Share Market Today / Weakness in the market for the second consecutive day, Sensex-Nifty opened in red

Share Market Today: The decline in the Indian stock market continued on Wednesday, which has increased the concern of investors. The BSE Sensex opened with a decline of 155.94 points at 81,395.69, while the NSE Nifty fell 25.50 points to reach the level of 24,800. Weakness is being seen in the market for the second consecutive day, indicating that investors are being cautious.

Movement of major stocks

The market started flat, but if we look at the sectoral activities, then some stocks also showed strength. Big stocks like Infosys, Tata Motors, Bharti Airtel, Bajaj Finance and NTPC saw a rise today. On the other hand, stocks like ITC, IndusInd Bank, Mahindra & Mahindra, and Titan underperformed and were seen trading in the red.

Tuesday's decline created pressure

A huge decline was seen in the stock market on Tuesday as well. The BSE Sensex closed at 81,551.63, down 624.82 points. At the same time, the NSE Nifty closed at 24,826.20, down 174.95 points. The main reason for this decline was profit booking and mixed signals at the global level.

Economic data will decide the future direction

Market experts believe that the movement of the stock market in the coming days will depend on many important economic data. Industrial production (IIP) data for the month of April will be released on Wednesday, while the gross domestic product (GDP) data for the March quarter will come out on Friday. These figures can have a profound impact on the market and investors' strategy will be based on them.

Ajit Mishra, Senior Vice President (Research), Religare Broking Limited, has said that the market is currently trying to strike a balance between mixed global signals and domestic uncertainties. However, he also added that domestic factors like expectations of a good monsoon and strong macroeconomic indicators are capable of supporting the market.