Stock market open with weak margin and banking stocks also show weakness

Stock market open with slight margin and YES bank down 3%

On Monday after the three-day holiday, the domestic stock market opened with slight margin. But, in a short time, this fast was lost. 3% increase in crude oil prices in the international market spoiled market mood. The impact of Reliance Industries and the weakness of the banking shares was also seen on the whole market.

According to news agency Reuters, the US can soon stop all oils coming from Iran or have to pay extra taxes on it. Brent futures cost $ 73.77 per barrel. Crude oil prices also dropped 52 paise to 69.87 levels.

At 9.30 am, the BSE Sensex was trading 182 points or 0.47 percent down at 38,959. At the same time, the Nifty 50 index was recorded at level of 11,688, with a weakness of 65 points or 0.55 per cent.

On Thursday, the US stock market gained momentum. Dow Jones raised 0.42 percent, while the S & P 500 index rose by 0.16 percent. Nasdaq composites found a nominal gain of 0.02 percent. The US stock market was closed on Good Friday on Friday.

BSE Midcap and Smallcap Index also declined by half a percent. In addition to the BSE IT and Tech index, the index of all sectors was trading in the red mark. Energy and oil and gas index dipped by up to two per cent.

Bharti Airtel shares slumped to Rs 338.85 with a weakness of 2.28 per cent on the BSE Sensex. Shares of IndusInd Bank dropped 2 percent to Rs 1,728.45. The shares of Reliance Industries, Yes Bank Kotak Mahindra Bank slipped 1.87 per cent, 3 per cent and 1.52 per cent respectively.

On the other hand, shares of Tata Consultancy Services increased by 1.01 per cent to Rs 2,167.25. Power Grid shares increased by 0.70 per cent to Rs 195.55. HCL Technologies, Infosys, HDFC Bank shares 0.53% 0.30 percent and 0.22 percent respectively.

Foreign Portfolio Investors (FPI) interest in the domestic stock exchanges continues. According to information from the NSE, on Thursday foreign investors invested a net investment of Rs 1,038.46 crore in the domestic market. At the same time, domestic institutional investors (DII) net sales of Rs 337.59 crore.

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