Stock Market: From Gold and Silver to the Stock Market... Why the Sudden Decline?

Stock Market: The stock market fell even before the Reserve Bank of India's monetary policy decision. The Sensex is trading down 155 points at 83,175.29, while the Nifty is at 25,600. This decline comes after a shift in global sentiment.

Out of the top 30 BSE shares, 12 are trading lower, while 18 are seeing gains. IT stocks have seen heavy selling. Shares like Tech Mahindra, TCS, Infosys, and Wipro have fallen sharply. Other shares experiencing significant declines include NTPC, HDFC, and Maruti.

Gold and Silver Also Fall

Along with the stock market decline, gold and silver are also seeing a fall. In the Multi Commodity Exchange (MCX), silver fell by Rs 12,000 to Rs 2.29 lakh. Gold has fallen by about Rs 2000 and is at Rs 1.49 lakh. Along with the fall in gold and silver, Gold ETFs have fallen by about 2 percent, while Silver ETFs have fallen by about 6 percent.

The major reason for the fall in gold and silver is the sharp decline at the global level. On the international market, COMEX, silver fell by up to 20 percent on Thursday, the effect of which is being seen on MCX on Friday.

63 Shares Hit Lower Circuit

Out of 3,348 shares on the BSE, 1,170 shares are trading higher, while 2,017 shares have fallen. 161 shares remain unchanged. 41 stocks are trading at their 52-week highs, while 45 stocks are at their 52-week lows. 82 stocks hit the upper circuit, and 63 stocks hit the lower circuit.

Why did the stock market fall?

Selling pressure increased on Wall Street during Thursday's trading session, leading to a sharp decline in global and Asian markets. The same effect is being seen in the Indian stock market on Friday. The Dow Jones Industrial Average closed down by nearly 600 points. The S&P 500 once again fell by more than 1 percent, causing IT stocks to plummet.