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News Topical, Digital Desk : A big decline was seen in the stock market on Thursday. Sensex, Nifty closed down by more than 1 percent. With today's decline in the market, the 6-day rally of Nifty has come to an end. While during this period all the sector indices of BSE closed down. On Thursday, Nifty closed down 253 points at 24,888, while Sensex closed down 823 points at 81,692. Nifty Bank closed down 377 points at 56,083. On Thursday, the market cap of BSE-listed companies saw a decline of about Rs 6 lakh crore.
Tata Motors was among the biggest losers in Nifty, closing with a decline of 2.98 percent. Tata Motors, Shriram Finance, Trent, Titan Company, Coal India witnessed the biggest decline in Nifty, while Apollo Hospitals, Dr. Reddy's Labs, Bajaj Finserv, Asian Paints, Tech Mahindra witnessed a rise. All sectoral indices closed in the red, with auto, consumer durables, FMCG, metal, IT, power, oil and gas, realty falling by 1-2 percent. The BSE midcap index fell by 1.5 percent and the smallcap index fell by 1.3 percent.
Why did the market fall? US President Trump expressed the possibility of sending notices of unilateral tariff rates to US trade partners in the next 1–2 weeks, which increased global trade uncertainty. Apart from this, Iran–Israel tensions deepened and the US started evacuating its people from Iraq, Kuwait, Bahrain, which has raised concerns of geopolitical risk among investors. Due to tensions in the Middle East, crude oil prices rose by more than 4 percent. Brent rose to $69.77 and WTI to $68.15 per barrel—inflation pressure increased and the rupee was affected.
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