Stock Market Fall: Share closed with decline, Sensex 207 and Nifty 45 drops, what are the reasons
The stock market did not remain an early rise in the stock market on Tuesday and before the GST Council meeting, the BSE Sensex lost 207 points due to profit booking in bank and vehicle stocks, while NSE Nifty lost 45 points.
The 30 -share BSE Sensex closed at 80,157.88 points, declining 206.61 points, or 0.26 percent. The index opened rapidly and traded with an edge till noon. However, due to profit booking at the end of trading, it fell down 752.64 points from 80,761.14 points of the day. The Sensex rose 554.84 points on Monday while the Nifty was in profit of 198.20 points.
Also Read: Will Trump impose 200 percent tariff on medicines, what will be the effect?
NSE Nifty, with fifty shares, closed at 24,579.60 points with 45.45 points, or 0.18 percent. During the trading, it went up to 24,756.10 points in high and came down to 24,522.35 points. Sensex companies were prominently in the loss of Mahindra & Mahindra, Asian Paints, Kotak Mahindra Bank, ICICI Bank, Tata Motors and Larsen & Toubro.
On the other hand, the share of Power Grid, NTPC, Tata Steel and Hindustan Unilever closed with benefits. Jiojit Investments Ltd. Research head Vinod Nair said that domestic stock markets lost the initial boom due to strong large figures and the GST Council meeting and the futures and options (F&O) segment closed with a decline in the leadership of shares due to profits between vigilance before the end of the deals. ‘
The GST Council will have a 2 -day meeting in New Delhi from September 3. The cuts in proposed rates will be discussed in this. In other markets in Asia, South Korea’s Cappey and Japan’s Nikki remained in the lead, while China’s Shanghai Composite and Hong Kong’s Hangseng closed down. There was a decline in the afternoon trading in the major markets of Europe. On Monday, the American markets were closed due to holiday on the occasion of Labor Day.
Global oil standard brent crude rose by 1.72 percent to $ 69.36 per barrel. According to the stock market data, foreign institutional investors (FIIs) sold shares worth Rs 1,429.71 crore on Monday, while domestic institutional investors (DIIs) made a buying of Rs 4,344.93 crore. Input agencies edited by: Sudhir Sharma
