Crash in the stock market continues

The stock market fell for the second day in a row on October 29. The Sensex was down 172 points and the Nifty 58 points. Global indicators were the reason why the market continued to decline.

The stock market continued to fluctuate sharply. The morning trade started with a loss. Later, it moved towards gain but could not sustain it. The Sensex closed at 39,749 points. It was up to 40,010 points. The day’s was 39,524 points.

The Nifty had gained till 11,744 points but lost 58 points on strong volatility. The Nifty fell to 11,606 points and it had strong support at 11,600. Nifty closed at 11,670 points.

Most of the Nifty stocks lost ground. Out of the 50 stocks in the Nifty, 34 stocks lost while only 16 stocks gained. Asian Paints, Tech Mahindra, Ultratech Cement, Shree Cements and HCL Tech were the top five gainers in the Nifty. Asian Paints gained 3.02 per cent.

Banking, auto, pharma and metal stocks were under selling pressure. Only the IT sector has registered gains. L&T, Titan Industries, Adani Ports, ONGC and Axis Bank were the top five losers in the Nifty. L&T lost 4.85 per cent. Shares of Titan Industries, Adani Ports, ONGC and Axis Bank fell more than 2 per cent.