Opening Bell: Stock market sags as Sensex drops by 600 points while RIL breaks over 4%
The stock market suffered a major setback on Monday due to the poor performance of BJP in the elections of 5 important states of the country. Between the start of the heavy selling, the Sensex slipped almost 500 points and weakened in a while. At the moment, the Sensex is trading 629 points and trading at 35,067. On the other hand, the Nifty weakened 192 points and is trading close to 10500.
Reliance Industries (RIL) is seeing a 4 per cent drop in the market. In the other top losers Indiabulls Housing Finance is trading at 4.20%, Ultratech Cement is 3.80%, Adani Ports 3.24%, Power Grid is trading with 3.15% weakness.
In addition to RIL, almost all the bluechip stocks are getting a fall. In Nifty 50, ITC, Mahindra & Mahindra, Sun Pharma, L&T, ICICI Bank, HDFC, Bharti Airtel, HUL, Adani Port are trading in red mark.
The fall in the stock market is so strong that the weakness in all sectoral indices of the Nifty is being seen. Nifty Realty has lost more than 2%. Meanwhile, the mid-caps, the smallcap index, are also at more than one percent decline.