Share Market Update: The local stock market declined for the second consecutive day on Wednesday and the BSE Sensex lost 239 points. Similarly, the Nifty of the National Stock Exchange based on 50 shares closed down 73.75 points, or 0.30 percent, closed at 24,752.45 points. The market came down due to selling in ITC and vehicle shares. The company’s stock came down after the British multinational company BAT PLC reduced the stake in the ITC that manufactures daily use goods.
The BSE Sensex based on 30 shares fell 239.31 points, or 0.29 percent, closed at 81,312.32 points. At one time it went down to 307.61 points during trading. Similarly, the Nifty of the National Stock Exchange based on 50 shares closed down 73.75 points, or 0.30 percent, closed at 24,752.45 points.
Also Read: Share Market Today: Sensex 625 points broken due to profit booking in banks and IT shares, NIFTY also dropped by 175 points
The shares included in the Sensex declined by more than 3 percent. BAT PLC has sold 2.5 percent stake in the group for Rs 12,927 crore ($ 1.51 billion) through a wholesale deal. Apart from this, IndusInd Bank, Nestle, UltraTech Cement, Mahindra & Mahindra, Power Grid, Asian Paints, Sun Pharma and Tech Mahindra were also in the loss. On the other hand, Bajaj Finance, Bharti Airtel, ICICI Bank, Adani Ports and HCL Tech were in profit.
Other markets in Asia were in South Korea’s Cappey lead, while Japan’s Nikki 225 index, China’s Shanghai Composite and Hong Kong’s Hangseng closed down. There was a decline in the afternoon Karebara in the major markets of Europe. The US markets were boom on Tuesday.
Also Read: Share Bazaar boom, Sensex 769 points jumped, Nifty also rises 243 points
Vinod Nair, head of research of Jiojit Investment Limited, said that the domestic index remained in a limited scope. The main reason for this is the selling of FII (foreign institutional investor) and more evaluation of shares. He said that there is a concern about Indo-US trade relations with the deadline for the US fee to be postponed for 90 days. It causes external risk.
According to the stock market data, foreign institutional investors on Tuesday bought shares worth Rs 348.45 crore. Global oil standard brant crude rose 0.69 percent to $ 64.57 per barrel. The BSE Sensex was broken 624.82 points on Tuesday while NSE Nifty lost 174.95 points. (Language)
Edited by: Chetan Gour
