Share Market: Fluctuations continue in the market, massive selling in pharma shares
Share Market: The stock market opened with a decline on the third day of the trading week. The impact of the international market is also being seen on the Indian market. Sensex and Nifty have opened with a huge decline.
Share Market: The ups and downs in the market continue. For the third consecutive week, the stock market started trading in the red with a big decline.
On Wednesday, the BSE Sensex opened at 75,787.27 with a decline of 180.12 points. At the same time, the Nifty 50 index opened at 22,847.25 points with a loss of 98.05 points.
During the trading session, the shares of Indian Overseas Bank, Larsen & Toubro, Container Corporation of India, Cello World, RBM Infracon, Bharti Airtel, Voller Car, PS Raj Steels and Maxvolt Energy Industries are in focus.
At the same time, the highest selling is being seen in the shares of the pharma sector.
Markets scared by Trump tariffs
US President Donald Trump on Tuesday announced a 25% tariff on auto and pharma imports in the country.
He also announced a 25% tariff on semiconductor chips, after which the stock market has panicked and investors have become cautious. The new tariffs on semiconductor and pharma imports will come into effect from April 2.
Foreign investors are continuously withdrawing money
Breaking the ongoing sell-off in Indian equities, foreign institutional investors bought shares worth a net Rs 4,786.56 crore during the previous trading session and domestic institutional investors (DIIs) bought equities worth a net Rs 3,072.19 crore on Tuesday.
Market condition of the past day
- In the Asian market, Korea's Kospi is up by 1.93%. Hong Kong's Hang Seng is down by 0.50% and China's Shanghai Composite Index is up by 0.54%.
- Foreign investors (FIIs) bought shares worth Rs 4,786.56 crore in the past day. During this period, domestic investors (DIIs) also bought shares worth Rs 3,072.19 crore.
- On Tuesday, America's Dow Jones closed at 44,556 with a gain of 0.023%. The S&P 500 index closed at 6,129, up 0.24%. Nasdaq rose 0.072%.