Sensex falls by 77 points: The local stock market declined on Monday amid a weak trend in global markets and the BSE Sensex was at 77 points. Due to the latest concern over global business, other markets of the world were a decline trend, which also showed the impact on the domestic market.
In addition, Russia-Ukraine War, a sharp increase in the price of Brent crude and capital withdrawal of foreign institutional investors affected investors. The BSE Sensex based on 30 shares in ups and downs was dropped to 796.75 points at one time. However, it later improved some improvement and finally it closed with a loss of 77.26 points.
The National Stock Exchange’s Nifty also fell 34.10 points, or 0.14 percent, to close at 24,716.60 points. During trading, it was broken at one time 224.55 points. The companies included in the Sensex were in the loss of Tech Mahindra, Tata Steel, Tata Motors, Titan, HDFC Bank, IndusInd Bank, Infosys and Kotak Mahindra Bank. On the other hand, profitable shares include Adani Ports, Mahindra & Mahindra, Power Grid, Internal and Hindustan Unilever.
Japan’s Nikki and Hong Kong’s hangs in Asian markets closed down with a decline, while South Korea’s COSPI remained in a positive realm. The market remained closed due to market holidays in China. There was a decline in the afternoon trading in European markets. On Friday, the American markets were closed with mixed trend. According to the stock market data, foreign institutional investors (FIIs) sold shares worth Rs 6449.74 crore on Friday.
US President Donald Trump said on Friday that he would double the fees on steel and aluminum to 50 percent. Vinod Nair, Head of Research of Jiojit Investments Limited, said the possible fee continued in the domestic market for the third consecutive week due to new concerns over war and increasing tension between Russia and Ukraine.
He said that investors are taking a stand to avoid risk due to global uncertainties, but the Indian market has shown strength. It is getting strong institutional investment and support from FMCG, real estate and financial sectors. Meanwhile, the growth rate of India’s manufacturing sector came to a three -month low of 57.6 in May. Inflation was the main reason for pressure, weak demand and geopolitical conditions. This information was given in the monthly survey released on Monday.
