Lucknow Press
On the very first day of the month, i.e. on August 1, both the major indices of the Indian stock market, Sensex and Nifty, made records. This was the first time when Sensex went beyond 82000 and Nifty went beyond 25000. But this boom of the market could not be maintained the next day.
On Friday, the last trading day of the week, Sensex fell by about 900 and Nifty also fell by about 300 points. In the trading session of August 2, Sensex fell by 814 points to 81,026 points and Nifty fell by 282 points to 24,728 points.
Selling also dominated Wall Street
Amid concerns about the US economy and a fall in Asian markets, selling dominated Wall Street. Due to this, banking, auto, IT and power shares declined. Due to this, the valuation of all the companies listed on the Bombay Stock Exchange decreased by Rs 4.26 lakh crore. During today’s trading session, the share price of most companies declined. Especially the shares related to metals and government banks declined more. Shares of smallcap and midcap companies were also seen trading in the red.
What happened in the US market?
The atmosphere of the Indian stock market looked like the US market. The stock market fell due to the weak performance of the manufacturing sector in the US. This increased concerns about the US economy, even though there were expectations of interest rate cuts by the Federal Reserve.
The Dow Jones Industrial Average fell 1.57% to 40,200, the S&P 500 fell 1.76% to 5,424 and the Nasdaq Composite fell 2.76% to 17,114. The impact of the fall in the US market was also seen in the Asian market. The largest index of Asia-Pacific shares, excluding Japan, fell 0.8%. Japan’s Nikkei index has fallen the most in the last four years.
