The Indian stock market opened lower on Monday. Selling pressure was evident in several Nifty-50 giants, with shares of Tata Steel, IndiGo, Shriram Finance, and SBI Life Insurance trading in the red.
On Monday's trading day, heavy pressure was visible on the Indian stock market. The market started with a big fall, creating an atmosphere of concern among investors.
The BSE's main index, Sensex, opened today with a massive fall of 606 points. Meanwhile, the NSE's Nifty-50 also opened 167 points lower, indicating a bearish trend in the market.
During the early trade, sharp selling was seen in many large and giant stocks of the Nifty. This decline affected the shares of several major companies.
Shares of Tata Steel, InterGlobe Aviation (IndiGo), Shriram Finance, SBI Life Insurance, and Bajaj Finserv were seen trading in the red. These stocks registered a fall of up to 2.3 percent.
Tata Steel's stock showed a downward trend since this morning. At 9:26 AM, the share was trading with a decline of 1.90 percent.
This fall means that the share price decreased by Rs 3.63, and it was seen trading at Rs 187.56.
During the trade, the share also touched a high of Rs 189.27 and a low of Rs 186.55.
Heavy selling was also seen in the shares of the leading aviation sector company, InterGlobe Aviation (IndiGo).
At 9:31 AM, IndiGo's share was seen trading at Rs 5,190.00 with a significant fall of 2.30 percent or Rs 122.00.
During this period, the share touched a high of Rs 5,217.00 and a low of Rs 5,141.50.
Shriram Finance's shares were not immune to this market decline. Selling pressure remained on the company's stock as well.
At 9:33 AM, its share was trading with a fall of 1.37 percent. Due to this decline, the share price fell by Rs 14.30 to Rs 1,029.80.
During the trade, the share made a high of Rs 1,031.00 and a low of Rs 1,017.00.
Investors also sold off shares of SBI Life Insurance. At 9:36 AM, SBI Life's share was down by 1.50 percent.
The share price fell by Rs 27.90 and was seen trading at Rs 1,835.00.
During this period, the share touched a high of Rs 1,850.50 and a low of Rs 1,832.10.
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