Why Share Market Crash: The Indian stock market fell sharply on Wednesday due to weak global cues and widespread selling. At 1 pm, BSE Sensex was trading at 71,728.89, down 1.91 percent or 1,399.88 points. Whereas, Nifty was trading at 21,645.20, falling 1.76 percent or 387.10 points. All the market indices are seen trading with red mark. HDFC Bank’s third quarter results have caused the biggest decline in banking stocks. HDFC Bank’s consolidated net profit for the October-December quarter has increased by 2.65 percent to Rs 17,258 crore. It was Rs 16,811 crore in the September quarter. Shares of Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors and Bajaj Finance were also in loss. On the other hand, shares of Tata Consultancy Services, Reliance Industries, UltraTech Cement, Infosys, HCL Technologies and Tech Mahindra were trading in profit. In such a situation, let us know what are the reasons for the market breakdown.
