Stock market crash ahead of GST Council meeting, Sensex opens more than 1100 points

New Delhi, Business Desk. On Friday, before the important meeting of the GST Council, there is a sharp decline in the domestic stock markets. Sensex, a 30-share sensitive index of the BSE, declined by 729.11 points or 2.17 per cent to 32,809.26 points at 9:36 am. The Sensex opened at 32,436.69 points, down 1,102.37 points on Friday. Domestic stock markets were also seen under heavy selling pressure due to concerns about the economy coming back on track and a spurt in corona virus cases in the US. 

Similarly, NSE Nifty was also trading at 9,673.85 points, down by 228.15 points, or 2.30 per cent.

Sensex shares fall most in these companies

IndusInd Bank’s share saw the biggest drop of 6 percent. Apart from this, shares of ONGC, Kotak Bank, Axis Bank, NTPC, Bajaj Finance and HDFC also broke. Meanwhile, shares of Sun Pharma and Bharti Airtel remained in the green mark.

Experts say negative sentiments from global markets, withdrawal of foreign investors’ money and rising cases of corona virus weakened investor sentiment. 

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US stock markets on Thursday saw a significant decline. The recent fall in the stock markets has been witnessed in the US due to the rise in Corona virus cases once again and the hopes of an early economic recovery. 

Experts say market sentiment has been affected even after Fed Reserve chief Jerome Powell indicated that the US economy would take some time to recover from the Corona crisis.

Shanghai, Hong Kong, Tokyo and Seoul are also seeing a decline of up to two per cent in the stock market.