Mumbai, 7/2:Today, the first trading day of the week is passing with disappointment for the Indian stock markets. The Sensex is seeing a fall of more than 1200 points. At the same time, Nifty is trading below 17,200 with a fall of more than 300 points. Bank Nifty is seeing a decline of more than 700 points.
There is a decline in 44 out of 50 Nifty stocks. 26 out of 30 Sensex stocks dominate the fall. Nifty has slipped below Budget Day’s low. Except Power, all sector indices of BSE are seeing a decline. Meanwhile, the midcap index is trading at a one-week low.
Market sentiment deteriorated due to these 4 reasons
Crude near $100
Globally, the rally in crude oil is not showing any signs of stopping. In this sequence, today Brent reached the level of $ 94 per barrel in the Asian market. Its price has climbed more than 14 percent in the last one month and it can go up to $100 in the coming weeks. The strength in crude is negative for the Indian economy, as it affects consumer demand and increases pressure on the Reserve Bank of India to tighten monetary policy.