Share Market Today: On the first day of the week, the stock market opened with a slight decline and within one hour it saw a drop of more than 700 points. At 10.22 in the morning, the Sensex was trading at the level of 50261 with 530 points and the Nifty was down by 14 points at 14889. Right now the minimum level of SENSEX is 50068 which is a drop of 724 points.
At this time, shares of Power Grid, Tech Mahindra, TCS, HCL and NTPC are seeing a boom. On the other hand, shares of Axi Bank, Bajaj Financial Services, Bajaj Finance, HDFC and ICICI Banks have seen a sharp decline. Due to the dominance of sellers in the domestic market, the rupee is seeing a boom. The rupee opened 9 paise higher at 72.72 this morning. On Friday, it had closed at the level of 72.81. Earlier in the trading session, the rupee had closed at 72.91.
Increase in bond yields affect the market
The US 10-Year Bond Yield is steadily rising. At this time it has reached the level of 1.63, which is the highest level in the last one year. On March 12, it reached 1.642. Earlier in February 2020, it reached the highest level of 1.684. When the bond yields rise, the pressure on the stock market increases. At this time, the dollar index is also seen increasing. Today it is at the level of 91.68. A rise in the dollar index leads to a fall in the price of gold.
Crude oil reaches near $ 70
The price of crude oil is showing up in the international market. Crude oil is currently trading at a level of $ 70 per barrel. On the first day of the week, crude oil for May delivery was trading at $ 69.72 per barrel with a gain of $ 0.50 (+ 0.72%). US crude oil was trading at $ 66.16 a barrel, with a gain of $ 0.55 (0.84%) at this time.