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Big Fall In The Stock Market, Sensex Had A Weak Start

Big fall in the stock market, except Powergrid-Maruti, most of the stocks are in loss.

Sensex had a weak start on Thursday. The main index of BSE opened at 60,045 points below the closing level of yesterday.

After this, it further declined and it came down by more than 350 points. It stood at 59,771 till the time of writing this news. While Nifty 50 was down 81 points at 17,856.

Earlier, Sensex and Nifty fell by nearly one percent on Tuesday amid losses in shares of realty, auto, and metal companies and continued selling pressure in global markets.

The 30-share Sensex of BSE fell 554.05 points, or 0.90 percent, to 60,754.86 points at the end of trading. 23 out of thirty Sensex stocks remained in losses.

Nifty closed at 18,113.05, down 195.05 points, or 1.07 points. 43 out of 50 Nifty stocks remained in the loss.

Big fall in the stock market: Maruti Suzuki’s stock was the biggest loser. Tech Mahindra, HCL Tech, Tata Steel, IndusInd Bank, and L&T also suffered losses.

Vinod Nair, Head of Research, Geojit Financial Services, said the domestic market witnessed volatility due to the rise in FD crude oil prices and selloff by foreign institutional investors.

Globally, markets were under selling pressure on rising bond yields amid fears of a hike in interest rates in the US.

Along with this, due to increasing concerns about oil supply, the prices of crude oil have also increased.

According to Deepak Jasani, Head of Retail Research, HDFC Securities, domestic traders booked profits amid weak global cues.

Due to this Nifty closed even lower than the low level of the last four trading days. The BSE Midcap index fell 2.2 percent while Smallcap lost 1.9 percent.

On a sectoral basis, basic goods, telecom, auto, realty, and metals indices declined up to 2.76 percent.

E-commerce policy may be announced in February, likely to ban sale with huge discount

The much-awaited e-commerce policy could be announced anytime in February.

Last Tuesday, the Department for Promotion of Industry and Internal Trade (DPIIT) held the final opinion on the e-commerce policy.

In which representatives from SME associations to retail traders along with representatives of companies like Amazon and Flipkart also participated.

According to DPIIT sources, the government will release the final draft of the e-commerce policy next month, and taking it as the basis, the e-commerce policy will be implemented.

According to sources, the government will try to release this draft by the second week of February so that small traders can be wooed by referring to the draft in the Uttar Pradesh elections.

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