Crash in the stock market continues

The crash in the stock market continued. The Sensex was down to 49,000 points and the Nifty was down to 14,300.

The day’s market is a continuation of the correction that took place on Friday. Trading started with a slight gain in the morning but then the selling pressure intensified. The Nifty fell below 14,300 points on bearish sentiment. Similarly, the Nifty index fell to 14,222 points and closed at 14,281.

Nifty Bank Index also declined sharply. Bank Nifty fell below 32,000 points. Metal stocks were the biggest losers. The Nifty Metal Index fell 40 per cent.

All sectors recorded losses. Out of 50 Nifty stocks, only six stocks gained. UPL is up 60 per cent. Tata Motors was the biggest loser in the Nifty. Tata Motors fell 6 per cent.