The stock market fell for the fourth straight day. Last week’s downward trend continued in the beginning of this week. The Sensex was down 667 points today. The Sensex, which had declined for four consecutive days, fell by about 1,500 points during the past few days.
The Sensex closed at 36,939 points. The Sensex had lost 36,911.23 points earlier in the day.
Similarly, the Nifty ended 181 points lower at 10,891. It fell to 10,882.25 at one point. The Nifty has strong support at 10,800. If it breaks that threshold, the Nifty is likely to fall further.
Banking stocks fell sharply. Banking stocks were adversely affected by indications of a move regarding the extension of the moratorium. Similarly, the Nifty index fell by 2.33%. Shares of Bandanbank fell 10%.
The top five gainers in the Nifty stocks were Tata Motors, Titan, Tata Steel, Acer Motors and BPCL. Tata Motors gained 7%. Shares of Tata Motors rose on the back of better-than-expected first-quarter results and better-than-expected July sales.
UPL, IndusInd Bank, HDFC Life, Kotak Mahindra Bank and ONGC were the top five losers in the Nifty. UPL is down 5.5%.
Reliance Industries, which had played a key role in the stock market surge last month, fell 2.90%. Reliance alone contributed to a 300-point decline in the Sensex.
