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Share Market Closing on 31 May: The momentum of the market, which has been growing continuously for the last few days, got a break on Wednesday. In today’s business, external factors had a big impact on the sentiment of the domestic market. During the trading, there was a sharp decline in banking and financial stocks. Due to this, both the major domestic indices BSE Sensex and NSE Nifty registered a decline.
Sensex fell so much
After the end of trading, the 30-share BSE Sensex closed at 62,622.24 points, down 346.89 points, or 0.55 per cent. It started trading today with a slight decline at 62,839.97 points. At one point during the trading, the Sensex fell to 62,400 points. Earlier on Tuesday, the Sensex closed at 62,969.13 points with an increase.
3 days fast stopped
Before today’s decline, the domestic market was seeing a boom for three consecutive days. On the strength of 3 consecutive days, the Sensex had succeeded in reaching the 62,970 mark, which was its highest level in the last five months.
So much damage to Nifty
Similarly, the National Stock Exchange’s Nifty also closed at 18,523.50 points, down 110.35 points, or 0.59 percent. The Nifty had closed at 18,633.85 points on Tuesday. Today it also opened near 18,594 points with a slight fall.
figures to come
This decline in the domestic market has come at a time when GDP figures are about to be released after some time. The official GDP figures for the March quarter are going to come out on Wednesday evening. Although the GDP figures are expected to be better than expected.
Due to these reasons the market fell
Today, external factors were responsible for the fall in the market. The risk of default in America has not yet averted. So far, a deal has not been reached in the US Parliament to increase the borrowing limit. In such a situation, America can default for the first time in history. On the other hand, negative signals are coming from China’s economy. This put pressure on the market and banking and finance stocks declined the most.
These big stocks fell
In today’s business, 19 out of 30 Sensex companies suffered losses, while shares of 11 companies closed strong. Axis Bank declined the most by about 2.5 per cent. Shares of NTPC, SBI and Reliance also suffered losses of more than 2-2 per cent.
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