Share market news: Major stock indices Sensex and Nifty fell by 1 percent each on Tuesday due to widespread selling pressure amid continuous withdrawal of foreign funds. Weak global trend also weighed on market sentiment. The 30-share BSE Sensex closed at 78,675.18, down 820.97 points or 0.01 per cent. During the day it fell 948.31 points or 1.19 percent to 78,547.84. The National Stock Exchange’s Nifty closed at 23,883.45, down 257.85 points or 1.07 per cent.ALSO READ: Stock market up in early trade, Nifty jumps 100 points
There were fluctuations in the shares of these major companies: Among the Sensex stocks, NTPC, Asian Paints, HDFC Bank, State Bank of India, Tata Motors, JSW Steel, Maruti and Power Grid were the biggest losers, on the other hand, Sun Pharma, Infosys and ICICI Bank closed with gains. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 2,306.88 crore on Monday while domestic institutional investors (DIIs) bought shares worth Rs 2,026.63 crore.ALSO READ: Share bazaar: The ongoing rise in the stock market for 2 days stopped, Sensex fell by 836 and Nifty by 285 points.
2 factors responsible for the market decline: VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said that two factors are working for the decline in the market. First, there is continued selling by FIIs. Second, continued buying by domestic institutional investors (DIIs) has supported the market and helped arrest some of the market decline. How the market will trend in the coming days will depend on these 2 factors.ALSO READ: After 2 days of rise, stock market fell again, Sensex slipped 238 points
In Asian and American markets: In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng closed with losses. European markets were trading lower in the afternoon session. American markets closed sharply on Monday. Global oil standard Brent crude rose 0.56 percent to $ 72.23 per barrel. (Language)
Edited by: Ravindra Gupta
