The domestic stock market closed down in the first trading session of the week due to negative signals from foreign markets. In Monday’s trade, the Sensex lost 194 points to 37,935 and the Nifty fell by 62 points to 11,132. Banking sector has seen the biggest decline in today’s business.

Today’s decline in foreign markets has been recorded in the US and China due to increasing tension and the possibility of another wave of corona virus returning. China has taken possession of the building of the American Consulate in Chengdu, raising tensions between the two countries. At the same time, Britain has issued new stringent rules regarding quarantine for travelers returning from Spain, which has caused a major setback to the tourism and aviation sector hoping for a recovery in Europe. With this, new cases are emerging in China, Australia and Vietnam, there is a possibility of second wave of Corona crisis. Because of all these signals, investors are keeping a cautious view on the stock market.

There are indications in the European and Asian markets today, Germany’s DAX was growing by 0.43% at the time of closing of the domestic stock market. On the other hand, France’s CAC 40 was down 0.03 percent and the UK’s FTSE 100 was down 0.09 percent. Among Asian markets, the Chinese market was up, with Shanghai Composite closing up 0.26 per cent. Along with this, Taiwan’s TSEC 50 index rose 2.31 percent. At the same time, Hong Kong’s Hangseng has shown a decline of 0.41 percent and Japan’s Nikkei 0.16 percent.

Banking sector has seen the biggest decline in today’s business. The banking sector index closed down 3.59 percent. At the same time, the Financial Services Index has seen a decline of 2.47 percent. The pharma sector saw a fall of 1.72 per cent, the realty sector by 1.66 per cent and the FMCG sector by 0.64 per cent. On the other hand, the IT sector recorded a growth of 1.97 per cent and the metal sector by 0.33 per cent.