Market Continues to Decline for the Fifth day, Sensex Drops 536 Points

The stock market continued to decline for the fifth consecutive trading session on Thursday and the BSE Sensex closed down 536 points.

The stock market continued to decline for the fifth consecutive trading session on Thursday and the BSE Sensex closed down 536 points. Investors are taking a cautious stand amid heavy selling in global markets and foreign capital outflows.

According to traders, investors are avoiding taking risks before the Union Budget next week. The BSE Sensex, based on three stocks, fell 535.57 points, or 1.13 percent, to close at 46,874.36.

Sensex Drops 536 Points

The National Stock Exchange (NSE) Nifty also lost 149.95 points, or 1.07 percent, to close at 13,817.55 points. This is the fifth consecutive trading session when the market has fallen. Overall the Sensex has lost 2,917.76 points while the Nifty has lost 827.15 points in the last five days. HUL was the biggest loser among the Sensex stocks. It declined by 3.65 percent. Apart from this, the stocks which saw a decline include Maruti, HDFC Bank, PowerGrid, IndusInd Bank, HCL Tech, and Bajaj Finserv.

Sensex drops On the other hand, the profitable stocks include Axis Bank, SBI, ONGC, and ICCI Bank. They fell by 6.16 percent. Wall profits fell by one day in percentage points in three months amid profit booking on the global front. This is the case when the US Federal Reserve kept the standard interest rate near zero and committed to continue the bond-buying program. There was also selling pressure in the Asian and European stock markets amid an increase in Covid-19 cases

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