Indian stock markets experienced a drop after four days of consistent growth. The BSE and NSE Sensex were both affected, with the BSE opening its shares at a lower note of 62,839.97 from its previous 62,969.12 on the previous day. While the Nifty 50 of NSE opened at 18,594.20 from its previous 18,633.85 points. Deepak Jasani, Head of Retail Research at HDFC Securities, suggests that weak global cues were the cause for the decline. Jasani believes that though the Nifty’s intraday close was low, there may be hope for the stocks to stay within the 18,641 to 18,432 band in the near future. With the US Congress voting on a deal to avert a government debt default, global markets were at their most nervous, indicating the economic struggles in play.
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