Indian shares suffer big losses in early trade as markets opened on Monday

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Indian shares suffer big losses in early trade as markets opened on Monday

Indian Shares Suffer Big Losses Early Trade as Markets open

Image Source: Twitter

Indian shares suffer big losses in early trade as markets opened on Monday. Sensex and Nifty slipped with ICICI Bank, SBI, Axis Bank, and more stocks crashing, while pharma and defense companies showed a slight gain in the morning trade on Monday.

Sensex, Nifty skid over 3% each; 4 factors are considered behind the fall. The measures announced by the government are long-term positives, there is no immediate trigger for the market to move upward, say experts and market analysts.

Indian shares suffered big losses on May 18, with the Sensex falling over 1,000 points and the Nifty touching 8,806 on the downside.

With this, the Indian market extended losses into the third consecutive day.

Sensex finished 1,028 points, or 3.31 percent, down at 30,069.93, while Nifty settled at 8,823.25, slipping 314 points, or 3.43 percent.

In sync with the benchmarks, BSE Midcap and Smallcap indices fell 3.87 percent and 2.92 percent, respectively.

Among the sectoral indices, BSE Finance and BSE Bankex fell 6.39 percent and 6.33 percent, respectively.

“Markets were hoping for big-bang government stimulus measures to boost demand and the eventual peaking of virus infections. Both of these have not happened. Stimulus measures have not enthused markets, while lockdown had been extended again due to rising infections. This, in addition to the insolvency procedures announced by the FM yesterday, could lead to an increase in NPAs for banks, which are the worst affected today,” said Sony Mathews, Senior Market Strategist at Geojit Financial Services, on May 18.

Here are the top 4 factors roiling the market.

News Source: Money Control

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