The stock market witnessed a decline today, May 11. The Sensex closed at 76,015, down 1,313 points. The Nifty also fell by 360 points, closing at 23,815. Today, shares in the Auto, Banking, Consumer Durables, and Realty sectors saw the sharpest declines.
3 Main Reasons for the Market Decline
- Fears of supply chain disruptions stemming from the Iran-Israel conflict.
- Rising crude oil prices, which will increase India’s import bill and fuel inflation.
- The ripple effect of declines in Asian markets on India.
Market Decline on Friday
Prior to this, the stock market had also witnessed a decline on May 8. The Sensex closed at 77,328, down 516 points. The Nifty also fell by 150 points, closing at 24,176.
