STOCK MARKET CRASHED: The three-day continuous rise in the stock market was halted on Monday afternoon. After a strong start and creating history, the 30-share Sensex of the Bombay Stock Exchange closed in the red with a decline at the end of the trading.
It is worth noting that in the early trade also, the BSE Sensex created history by crossing the 77000 mark for the first time, but by the time the market closed, this initial rise suddenly turned into a decline and the Sensex closed down by 200 points.
Sensex slipped below 77 thousand for the first time
After PM Narendra Modi took oath as the Prime Minister for the third consecutive time, the stock market on Monday saluted Modi 3.0 with a strong rise and the Sensex crossed the 77,000 level for the first time with a strong rise of 323.64 points. I
t opened at the level of 77,017. During trading, the Sensex touched a level of 77,079.04. However, by the time the market closed, it started declining and it closed at 76,490.08 with a decline of 203.28 points or 0.27%.
Nifty also slipped sharply
Like the Sensex, the National Stock Exchange’s Nifty index also closed with an initial decline. NSE Nifty started trading at 23,319.15 and reached a day’s high of 23,411.90. But then it also started declining and it closed at 23,259.20 with a slight decline of 30.95 points in the points.
These are the reasons behind the decline in the stock market
If we mention the reasons behind the sudden decline in the stock market on Monday, then profit booking seems to have played an important role in it, due to which the boom turned into a decline.
However, if we talk about other reasons, then after the swearing-in of Modi 3.0, the market is now eyeing the Finance Ministry.
Nirmala Sitharaman possibly can become Finance Minister again
However, Nirmala Sitharaman has been given a place in the Modi cabinet again and she has also taken oath it is also expected that this time too Nirmala Sitharaman can get the responsibility of the Finance Ministry.
But if there is some change and the responsibility of the Finance Ministry is given to someone else, then it can be a surprising thing.
Apart from this, the pressure of the US Inflation data and the results of the US Fed coming on June 12 has also been seen on the stock market.
