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Sensex down 52,300 points, Nifty also falls

The International Monetary Fund (IMF) has downgraded India’s economy. The effect of this news has also been seen on the Indian stock market. In early trade, the Sensex fell below 52,300 points, down more than 280 points. At the same time, Nifty was seen trading at the level of 15,650 points after breaking 100 points. During this period, the biggest fall was recorded in the banking and IT stocks.

IndusInd Bank Top Gainer: Private sector IndusInd Bank has made tremendous profits in the quarterly results. Investors in the stock market are getting the benefit of this news. IndusInd Bank shares gained more than three per cent in early trading on the third trading day of the week. It appeared as a top gainer on the BSE Index. The share price of the bank was in the range of Rs 1000 during trading.

The bank’s profit has doubled to Rs 1,016.11 crore in the April-June quarter of the current financial year 2021-22. The profit of the bank has increased due to reduced provision against retail loans and bad loans. Earlier, in the first quarter of the financial year 2020-21, the bank’s net profit was Rs 510.39 crore.

Market condition on Tuesday: The BSE index based on thirty shares recorded a decline. After the initial gains, the Sensex closed at 52,578 points, down 273 points, or 0.52 per cent. At the same time, the Nifty of the National Stock Exchange also closed at 15,746 points, down 78 points, or 0.49 per cent. During this, the biggest fall came in the stock of Dr Reddy’s.

The stock of this company closed with a fall of 10.44 percent on the last trading day. Besides, Axis Bank, Sun Pharma, Kotak Bank, HDFC and ITC fell up to 3.23 per cent.