Sensex Today Ends 456 Points Lower | IT Stocks Drag | 5 Reasons Why Indian Share Market is Falling

Tue, 16 Apr Closing

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After opening the negative note, Indian share markets Slipped further as the session progressed and ended the day weak.

Benchmark equity indices were seen languishing in the negative zone on Tuesday amid escalation in the Iran-Israel war.

At the closing bell, the BSE Sensex stood lower by 456 points (down 0.6%).

Meanwhile, the NSE Nifty closed lower by 96 points (down 0.4%).

ONGC, HUL and Titan were among the top gainers today.

Infosys, Wipro and Bajaj Finserv on the other hand, were among the top losers today.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

The GIFT Nifty ended at 22,191 down by 161 points.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list.

Broader markets ended the day lower. The BSE Mid Cap ended marginally higher and the BSE Small Cap index ended 0.6% higher.

Sectoral indices are trading mixed with socks banking sector, power sector and realty sector witnessing buying. Meanwhile stocks in metal sector, It sector and realty sector witnessed selling pressure.

Shares of Cummins India, Hindustan Aeronautics, IPCA hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.5 against the US$.

Gold prices for the latest contract on MCX are trading 0.4% lower at Rs 72,538 per 10 grams.

Meanwhile, silver prices are trading 0.3% higher at Rs 83,625 per 1 kg.

Here are five reasons why Indian Markets are falling today

#1 Iran-Israel War

Tension in the Middle East is the major reason for selling in the Indian equity market as this has put doubts regarding the geo-political uncertainty in the region.

Israel's military chief's statement that there will be a response to Iran's attack has increased the probability of escalation of tension in the middle east.

#2 Weak Global Market

After escalation in the Middle East, selling has taken place across the global bourses. European stocks plummeted, mirroring selloffs in major Asian markets like Nikkei, Hang Seng, Kospi, etc., and wall street.

#3 Rising Bond yields

Rising US bond yields are spooking investors as it reduces the prospects of rate cuts by the Fed this year. High bond yields are negative for risky assets like equity and will accelerate FII selling in Inida.

#4 Soaring Crude Oil Prices

Crude oil prices have surged to the six-month high in domestic and international markets. The fuel prices have risen to the tune of 6% in March 2024 whereas, in April 2024, it has surged more than 3% till date.

This prices further rose on Tuesday amid heightened tensions in the middle east. Brent crude rose 0.5% to US$90.6 a barrel.

#5 FII's Selling

Due to the geopolitical uncertainty and rising US dollar rates, FIIs are fishing out money from the Indian stock market. On Monday, they sold out Indian stocks worth Rs 32.7 bn.

Speaking of stock markets, Co-head of Research at Equitymaster, Rahul Shahin the latest video explores how different investor mindsets can lead to varying valuations of the same stock, using Exide Industries as an example.

It also highlights the importance of having a clear exit strategy.

Tune in to the below video:

Zomato Launches Electric Fleet

in news from the retail segment, Zomato, on Tuesday, unveiled a new service, the large order fleet, to efficiently manage sizable orders for gatherings, parties, and events.

Goyal emphasised that this new fleet is specifically crafted for gatherings accommodating up to 50 individuals, addressing a gap in their service offerings. These new vehicles should solve most of the problems our customers face while placing large orders on Zomato.

Explaining the rationale behind this development, Goyal said that Zomato previously managed large orders through multiple delivery agents, resulting in subpar customer experiences.

However, the founder of the food-delivery behemoth also informed that the new feature was still evolving and is a work in progress. He added that Zomato is in the process of adding more features, such as cooling compartments and hot boxes with temperature control.

Notably, this announcement follows a recent incident where Zomato faced backlash on social media for introducing a "pure veg fleet" dedicated to delivering orders from vegetarian-only restaurants.

Responding swiftly to criticism and concerns, the company promptly retracted its plans for distinct green uniforms and boxes within 24 hours of the initial announcement.

In the past year, Zomato's share price has surged by 257%, while since listing, the stock is up 44%.

For more, check out Top 5 Multibagger Stocks Offering Growth, Value and Momentum.

Why Jio Financial Services Share Price is Rising

Moving on to news from the financial sector, Jio Financial Services, the financial subsidiary of Reliance Industries, witnessed a significant surge of 5% today.

This increase follows the company's announcement, made through an exchange filing on Monday, regarding the signing of an agreement to establish a 50:50 joint venture with BlackRock.

The venture aims to engage in wealth management activities, including the establishment of a wealth management company and, subsequently, a brokerage firm in India.

The company also informed investors that the launch of the wealth management and broking business is subject to regulatory and statutory approvals.

The broking and wealth management sector in India is experiencing significant growth, fueled by the surge in demat accounts in recent years.

Projections indicate promising prospects for the wealth management industry, with expectations of a substantial rise in high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) in India.

Over the past five years, individuals with incomes surpassing Rs 10 m have seen a 15% increase, with forecasts suggesting their numbers will reach 3.4 lakhs in the next five years, contributing to the sector's expansion.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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Indian Share Market Update: Top Gainers and Losers