Share Bazaar broken for the second consecutive day, Sensex 573 points slip, NIFTY also declined
Share Market Update: Local stock markets were on a decline for the second consecutive day on Friday due to the rise in crude oil prices after the Israeli attack on weak global markets and Iran’s nuclear installations. The Sensex broke 573 points and the Nifty 170 points. The BSE’s 30 -share standard index Sensex fell 573.38 points, or 0.70 percent to close at 81,118.60 points. In the morning trading, the Sensex fell to 1,337.39 points to 80,354.59 but later recovered to a extent.
The 50 -share index Nifty of the National Stock Exchange (NSE) fell 169.60 points, or 0.68 percent, to close at 24,718.60 points. Analysts believe that investors thought it better to stay away from risky shares amidst the possibility of full war between Israel and Iran and the possibility of foreign capital going out.
Also Read: Sensex 823 points slip from stress in West Asia, Nifty also came below 25 thousand
Among the companies of Sensex, Adani Ports, ITC, State Bank of India, Industry Bank, HDFC Bank, Titan, Kotak Mahindra Bank and UltraTech Cement were the biggest decline. On the other hand, the shares of Tech Mahindra, Tata Consultancy Services, Sun Pharma and Maruti increased. Global oil standard Brent crude jumped 7.44 percent to $ 74.52 per barrel due to increased tension in West Asia.
Other markets in Asia, South Korea’s Korea, Japan’s Nikki 225, China’s Shanghai Composite and Hong Kong’s Hangseng closed down. European markets were trading with a decline. On Thursday, the US markets were locked in a positive scope.
Also Read: Share Bazaar declined for the third consecutive day, Sensex 636 points broken, Nifty also slipped
The Indian stock market declined due to weak global signals and capital withdrawal of foreign institutional investors, “said Vinod Nair, Head of Research Ltd. The increase in tension after Israel’s military attack on Iran had a significant impact on the market notion, which led to the great trend in investors to avoid risk. Nair said Brent crude prices reached close to $ 76 per barrel, which is the highest level this year, which has increased the possibility of inflation when stress continues.
According to the stock market data, foreign institutional investors (FIIs) on Thursday made a net selling of shares worth Rs 3,831.42 crore. The BSE Sensex fell 823.16 points on Thursday to 81,691.98 points and NSE Nifty closed 253.20 points to close at 24,888.20 points. (Language)
Edited by: Chetan Gour
