Black Friday: The Indian stock market trembled due to the fear of US recession, Sensex took a dive of 1,093 points with a huge fall

Friday once again proved to be Black Friday for the Indian market. The effect of the fear of recession in the markets around the world was also seen in the Indian market and today the local stock market took a dive on Friday. The BSE 30-share Sensex lost 1,093 points, while the Nifty also declined 347 points. Fears of a slowdown in the global economy and heavy selling by foreign institutional investors also weighed on the market sentiment.

The Sensex continued its decline for the third day in a row and ended at 58,840.79, down 1,093.22 points or 1.82 per cent. The Sensex had fallen up to 1,246.84 points during trading. Similarly, the Nifty of the National Stock Exchange also closed at 17,530.85, down 346.55 points, or 1.94 per cent.

According to experts, there are deepening apprehensions about the toughness of the US Fed behind the latest fall in the Indian market. According to analysts, the markets around the world have been shocked by the sigh of recession, the effect of this is also visible on Dalal Street. Apart from this, rating agency Fitch earlier this week lowered India's GDP growth forecast for the current fiscal to 7 per cent from 7.8 per cent due to global economic tensions, rising inflation and tightening RBI monetary policy.

Among the Sensex stocks, Tech Mahindra and UltraTech Cement were the biggest losers of over four per cent each. Shares of Infosys, Mahindra & Mahindra, Wipro, TCS, Nestle and Reliance Industries were also major losers. On the other hand only IndusInd Bank shares closed with gains.

The shadow of recession in the markets of Asia and Europe In other Shia markets, South Korea's Kospi, Japan's Nikkei, Hong Kong's Hang Seng and China's Shanghai Composite ended in losses. At the same time, most of the European markets were trading in decline. The US market also closed with a loss on Thursday.

International benchmark Brent crude rose 0.32 percent to $91.13 per barrel. Foreign institutional investors sold shares worth Rs 1,270.68 crore on Thursday, according to stock market data.