Share Market Today: Domestic stock markets fell for the third consecutive day on Friday amid weak trend in global stock markets. Sensex fell 241 points while Nifty fell below the 23,500 level as investors avoided new risks.
According to analysts, business sentiment remained weak due to increasing concerns about economic growth and sluggish quarterly results of companies. Apart from rising crude oil prices and strengthening of the dollar index, withdrawal of foreign institutional investors also contributed to this.ALSO READ: Share bazaar: Due to withdrawal of foreign funds, there was a decline in early trading in the stock market, the rupee also fell by 9 paise.
Business was full of ups and downs: In volatile trading, BSE’s 30-share benchmark index Sensex fell 241.30 points, or 0.31 percent, to close at 77,378.91. During trading, the Sensex also reached a high of 77,919.70 and a low of 77,099.55. In this way, a fluctuation of 820.15 points was seen during the day. National Stock Exchange (NSE) index Nifty also fell by 95 points or 0.40 percent to 23,431.50. In this way Nifty closed below the psychological level of 23,500.
There were fluctuations in the shares of these major companies: Among the companies included in the Sensex group, shares of IndusInd Bank, NTPC, UltraTech Cement, Sun Pharma, Axis Bank, State Bank of India, Tata Steel, Power Grid, Adani Ports and Kotak Mahindra Bank were major losers. On the other hand, shares of IT services company Tata Consultancy Services (TCS) saw a rise of about 6 percent.ALSO READ: Investors lost Rs 10.98 lakh crore due to huge fall in the stock market
The results of December quarter net profit rising 11.95 percent to Rs 12,380 crore boosted buying in TCS shares. Apart from this, shares of Tech Mahindra, HCL Tech, Infosys and Bajaj Finserv also closed with gains. Meanwhile, the process of withdrawal of foreign institutional investors (FIIs) from Indian markets continues. According to stock market data, FIIs made a net sale of shares worth Rs 7,170.87 crore on Thursday.
Domestic market sentiment remained sluggish: Vinod Nair, Head of Research, Geojit Financial Services, said the sentiment in the domestic market remained subdued due to rising crude oil prices on supply-side concerns and strengthening of the dollar index. Despite positive initial results showing signs of strength in the IT sector, the indices declined due to uncertainty over Trump’s policies and high valuations of the domestic market. Global oil benchmark Brent crude jumped 2.02 percent to $78.47 per barrel.ALSO READ: How will be the effect of retrograde Jupiter on the share market?
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 also trading with a decline. American markets were closed on Thursday. On Thursday, BSE Sensex fell 528.28 points to 77,620.21 and NSE Nifty fell 162.45 points to close at 23,526.50.(Language)
Edited by: Ravindra Gupta
