The domestic stock market weakened this week after creating a new history. This is the first time in almost two months that the domestic stock market has been in loss during a week. With this, the longest rally of 14 years came to a halt.
Sensex-Nifty decline on Friday
A day before, on the last day of the week, i.e. Friday, August 2, the domestic stock market had fallen sharply. The BSE Sensex fell 885.59 points or 1.08 percent to close at 80,981.95 points. At the same time, the Nifty fell 293.20 points (1.17 percent) to 24,717.70 points. The domestic market was also in loss due to increased selling pressure at the global level.
The domestic market fell so much in a week
On a weekly basis, the BSE Sensex was down by 621.56 points (0.76%). On the other hand, the NSE Nifty fell by 198.35 points (0.80%) for the entire week. Before that, the domestic stock market was in profit for 8 consecutive weeks. That was the longest rally of the domestic stock market on a weekly basis after the year 2010. The domestic stock market was continuously rising after the results of the Lok Sabha elections were announced during the first week of June.
Sensex-Nifty made a new high
During the past week, the record rally of the domestic market may have been curbed, but even after that the market managed to create new history. During the week, while the BSE Sensex crossed the 82 thousand points mark for the first time, the Nifty also managed to cross the 25 thousand points mark for the first time in history. During the week, the Sensex and Nifty also made new all-time highs of 82,129 points and 25,078 points respectively.
There is a possibility of pressure on the market
Now, there is a possibility of pressure on the market during the new week starting from August 5. During the last week, the first shock to the market was given by the US Federal Reserve. After that, the worrying data of the US economy increased the problems of the market. The unemployment rate in America has reached the highest in many years. Analysts have started expressing the possibility of recession in America. In such a situation, stock market investors can be cautious and keep distance from the market.
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