The all-around sale of the stock market was dominated on Monday due to weak BJP performance in the elections of 5 important states, poor global signals, and weakness in rupee. This led to the Sensex closing down 713.53 points at 34,959.72. On the other hand, the Nifty fell 205.25 points to 10488.25. Heavyweights such as Reliance Industries (RIL) and Bharti Airtel have lost 4%.
Market Due to These Reasons
- In the exit polls of the five states assembly elections, the BJP ruled by the Center is showing weakness.
Besides, the rise in crude oil prices in the international market and the rupee depreciation against the dollar at the domestic level are also showing on the market.
Crude oil in the international market has climbed nearly one percent after the announcement of OPEC's cut of 1.2 million barrels per day in crude oil production.
Source- Money Bhaskar
