Share Market Update: The local stock market declined on Thursday and the BSE Sensex fell 823 points. At the same time, the National Stock Exchange’s Nifty fell below 25,000 points. The market was in loss amidst a global weak trend amid the ongoing tension in West Asia. With this, the continuing boom in the Nifty has stopped since the last six trading sessions. Traders said the capital withdrawal of foreign institutional investors also influenced the notion of investors. The companies included in the Sensex were prominently damaged Tata Motors, Titan, the Internal (East Jomato), Power Grid, Tata Steel, Larsen & Toubro, Mahindra & Mahindra and Hindustan Unilever.
The BSE Sensex based on thirty stocks closed at 81,691.98 points, declining 823.16 points, or one percent. At one time during the trading, it was dives up to 991.98 points. The National Stock Exchange’s Nifty also fell at 253.20 points, or 1.01 percent, closed at 24,888.20 points. With this, the continuing boom in the Nifty has stopped since the last six trading sessions.
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Traders said the capital withdrawal of foreign institutional investors also influenced the notion of investors. The companies included in the Sensex were prominently damaged Tata Motors, Titan, the Internal (East Jomato), Power Grid, Tata Steel, Larsen & Toubro, Mahindra & Mahindra and Hindustan Unilever. On the other hand, the shares in profit include Bajaj Finserv, Asian Paints and Tech Mahindra.
Jiojit Investment Ltd. Research head Vinod Nair said, “The decline in the domestic market is becoming all -round.” Investors are avoiding taking risks due to evaluation concerns and rising crude oil prices due to stress in West Asia.
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He said, America is considering unilateral fees hike on several major trade partners. This is also expected to increase uncertainty. The decision in this regard is likely to be within the next one to two weeks. The BSE Midcap index belonging to Majholi companies fell 1.52 percent, while the BSE Smallcap of small companies fell down 1.38 percent. The BSE declined 2,729 shares, while 1,282 shares were in profit. The prices of 140 shares remained stable.
Railwayor Broking Ltd. Senior Vice President (Research) of K Ajit Mishra said, “Selling between Israel and Iran was sold for several reasons, including renewed tension, increase in crude oil prices. These developments have made investors more cautious. Meanwhile, the Air India aircraft going to London carrying 242 passengers and crew crashed in the residential area a few minutes after flying from Ahmedabad Airport on Thursday. Many people are expected to be killed in this.
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The stock of aircraft manufacture company Boeing fell by about eight percent before the market opened on Thursday (pre-market). In other markets in Asia, South Korea’s Cappey and China’s Shanghai composite increased, while Japan’s Nikki and Hong Kong’s Hangseng remained in disadvantages. There was a decline in the afternoon trading in the major markets of Europe. The US markets closed down on Wednesday.
According to the stock market data, foreign institutional investors (FIIs) sold shares worth Rs 446.31 crore on Wednesday. Global oil standard Brent crude fell 1.43 percent to $ 68.77 per barrel. The BSE Sensex was at a profit of 123.42 points on Wednesday, while the NSE Nifty was gaining 37.15. (Language)
Edited by: Chetan Gour
