The stock market fell on the last trading day of the week today, i.e. Friday, May 9. The Sensex closed at 79,454, down 880 points (1.10%). Nifty also fell 266 points (1.10%), closing at 24,008. Out of 30 Sensex stocks, 25 fell. ICICI Bank fell 3.24%. A total of 16 stocks including Power Grid, UltraTech Cement, Bajaj Finance, Reliance closed down by about 3%. However, Titan, Larsen & Toubro, Tata Motors and SBI closed up by 4.25%. Out of 50 Nifty stocks, 38 fell. Realty sector fell by 2.38%, Financial Services by 1.76%, Private Bank by 1.29% and Oil & Gas by 0.78%. Whereas, Government Banking index closed up 1.59%, Media 0.95% and Consumer Durables 0.92%.
Three reasons for the fall in the market Boom in the global market Foreign investors’ confidence in the market remains intact Buying by foreign investors (FII) continues in the Indian market. Yesterday, i.e. on 8th May, foreign investors bought shares worth Rs. 2,007.96 crores. Whereas, domestic investors sold shares worth Rs. 596.25 crores during this period. Net purchase by foreign investors in the month of April was Rs. 2,735.02 crores. Domestic investors also made net purchases of Rs. 28,228.45 crores during the month. Stock market had fallen by 412 points yesterday On the fourth trading day of the week today, i.e. Thursday (8th May), the Sensex closed at 80,335, falling by 412 points. Nifty also closed down by 141 points at 24,274. Out of 30 Sensex stocks, 26 closed with a decline. Zomato’s stock fell by 3.97%. Mahindra, Bajaj Finance, Maruti and Tata Steel stocks closed down by 3.5%. At the same time, HCL, Axis Bank, Kotak Bank and Titan closed up. Out of 50 Nifty stocks, 45 declined. In NSE’s sectoral indices, realty closed down by 2.47%, metal by 2.09%, healthcare by 1.95%, auto by 1.90%, pharma by 1.62% and government banking index by 1.35%. There was a slight rise in IT and media. Market fell after news of drone attack on Pakistan Yesterday (May 8), the market was flat in early trade. Sensex-Nifty were trading with a slight decline. But after the news of India’s drone attack on many big cities of Pakistan, there was a sudden decline in the last half hour of the market. Pakistani market fell 6.58% yesterday; Pakistan’s stock market has fallen by more than 6% today on 8 May, after the airstrikes carried out by India in response to the Pahalgam attack. The Karachi-100 index fell by 7,241 points or 6.58% and closed at 102,767. Trading had to be stopped during the day due to the fall. However, it was restarted later. Yesterday also the market fell by 3,556 points (3.13%). That is, Pakistan’s market has fallen by almost 10,000 points in two days. On the other hand, KSE 100 has fallen by 13% since the Pahalgam terrorist attack on 22 April.
