Share market update news: The local stock market did not remain intact on Wednesday and both standard index remained in loss. The BSE Sensex fell 288 points due to selling pressure in shares of HDFC Bank, L&T and Reliance Industries, while NSE Nifty was in a loss of 88 points. The companies included in the Sensex were Bajaj Finserv, Larsen and Toubro, Bajaj Finance, HDFC Bank, Bharat Electronics and Kotak Mahindra Bank. Capital withdrawal of foreign institutional investors and mixed trend of global markets affected perception. The American markets were closed with a mixed trend on Tuesday.
BSE Sensex based on thirty stocks could not maintain the initial rise and finally closed at 83,409.69 points with a decline of 287.60 points, or 0.34 percent. At one time it was broken up to 546.52 points during trading. NSE Nifty, based on fifty stocks, closed at 25,453.40 points, declining 88.40 points, or 0.35 percent.
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The companies included in the Sensex were Bajaj Finserv, Larsen and Toubro, Bajaj Finance, HDFC Bank, Bharat Electronics and Kotak Mahindra Bank. On the other hand, profitable stocks include Tata Steel, Asian Paints, UltraTech Cement and Trent.
Jiojit Investment Ltd. Investors are adopting a cautious attitude before the end of the result of the research, Vinod Nair, the research head Vinod Nair said. The market focuses gradually on the financial results of the first quarter of the companies, which has high expectations.
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He said, the market has strengthened due to strong major economic foundation and enlarged government expenditure. However, a cautious stance may remain in the near future. The growth rate of India’s manufacturing sector increased to 14 months high of 58.4 in June. This indicates a record increase in employment with rapid production and new order. This information was given on Tuesday in a monthly survey.
The seasonally adjusted HSBC India Manufacturing Purchase Manager Index was 57.6 in May. Along with this, according to the official data released on Tuesday, the gross Goods and Services Tax (GST) collection increased by 6.2 percent to more than Rs 1.84 lakh crore in June. It was Rs 1,73,813 crore in the same month a year ago.
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In other markets in Asia, South Korea’s Cappey, Nikki of Japan and China’s Shanghai composite remained in loss, while Hong Kong’s Hangseng index was in profit. There was a boom in the afternoon trading in the major markets of Europe. The American markets were closed with a mixed trend on Tuesday.
Global oil standard brent crude rose 0.86 percent to $ 67.69 per barrel. According to the stock market data, foreign institutional investors (FIIs) sold shares worth Rs 1,970.14 crore on Tuesday. The BSE Sensex had gained 90.83 points on Tuesday while NSE Nifty was up by 24.75 points. (Language)
Edited by: Chetan Gour
