New Delhi:
Trading in the Indian stock market started today i.e. the first day of the week i.e. 13th May with a decline. On Monday, equity benchmark indices BSE Sensex and Nifty 50 opened in the red. The NSE Nifty 50 opened down 27.25 points, or 0.12%, at 22,027.95 in early trade, while the BSE Sensex opened down 187.82 points, or 0.26%, at 72,476.65. In early trade, the Sensex fell 462.33 points to 72,202.14 and the Nifty lost 125.8 points to 21,929.40.
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After this there was a sell-off in the stock market. Due to which the Sensex fell over 700 points, while the Nifty 50 also slipped below 22,000.
The Sensex was trading down 738 points or 1.02% at 71,925 at 10:05 am. While Nifty is trading down 211 points (0.96%) at 21,844.
According to the report, this sharp drop in the stock market is mainly due to weakness in auto and IT sector shares as well as increased volatility due to the ongoing Lok Sabha elections.