Share Market Update: The local stock market standard index Sensex fell by about 412 points on Thursday, while the Nifty slipped 140 points due to increasing selling in the last hour of trading amid growing tension on the border between India and Pakistan. The stock market was trading more or less in a range, but it came down rapidly due to the emphasis of selling in the last hour. As soon as the news of Pakistan’s failed attempt to target some border cities of the country, the selling intensified.
The BSE’s 30 -share standard index Sensex fell 411.97 points, or 0.51 percent, to close at 80,334.81 points and its 23 shares were in loss. However, the Sensex was open with an increase and reached a high level of 80,927.99 points at one time from buying.
Also Read: Share Market: Investors adopted alert stance from Indo -Pak stress, Sensex 156 and Nifty 82 points dropped
But in the afternoon session, the index speed slowed due to selling in companies, vehicles and select banking shares making daily consumption goods (FMCG). It fell to a low of 759.17 points, or 0.94 percent of 1 hour before the trading shutdown.
The National Stock Exchange (NSE) standard index Nifty also closed at 24,273.80 points with a decline of 140.60 points, or 0.58 percent. At one time during the trading, it fell 264.2 points to 24,150.20 points. Officials said the Indian armed forces on Wednesday night destroyed a Pakistani air defense system in Lahore, thwarting the Pakistani army’s efforts to attack several military bases in northern and western India.
Also Read: India Pak tension declines in Share Bazaar for the second consecutive day, Sensex 589 and Nifty 207 points dropped
The Ministry of Defense said that Pakistan’s attacks were neutralized with the help of integrated human-free aircraft immune system. In a strong retaliation for Pahalgam massacre, the Indian Army destroyed nine terrorist bases in Pakistan and Pakistan -occupied Kashmir (PoK) through missiles in the early hours of Wednesday.
The deepening of tension on the border had an impact on the stock market and among the companies included in the Sensex (east Zomato), Mahindra and Mahindra, Maruti, Bajaj Finance, Tata Steel, Bharti Airtel, Bajaj Finserv, Asian Paints, Power Grid and Indian Banks, including 23 shares declined.
On the other hand, the shares of seven companies including Kotak Mahindra Bank, Axis Bank, Titan, HCL Tech, Tata Motors, Infosys and Tata Consultancy Services were in profit. The BSE Midcap index fell by 1.90 percent in the broad market and 1.05 percent in smallcap.
Also Read: Stormy boom in Share Bazaar, Sensex jumped more than 1500 points, Nifty also jumped
Vinod Nair, Head of Research Limited, Jiojit Investment Limited, said that the Indian stock market saw profit -booking by the end of the trading session due to increasing tension between India and Pakistan and the increase in cross -border firing. Nair said the market did not get any special confidence from the review meeting of the US central bank as the Federal Reserve has feared inflation and unemployment to increase from the aggressive fee policy. However, the global market remains stable and positive.
According to the stock market data, foreign institutional investors (FIIs) on Wednesday bought shares worth Rs 2,585.86 crore. Other markets in Asia, South Korea’s Cappey, Japan’s Nikki 225, China’s Shanghai Composite and Hong Kong’s Hangseng closed with profit.
Also Read: Share Bazaar: Sensex 1000 points broken by Pahalgam attack, NIFTY also below 24000 levels
Europe’s markets were trading with an edge in the afternoon session. The American markets also closed with an edge on Wednesday. Global oil standard brent crude rose by one percent to $ 61.75 per barrel. BSE Sensex rose 105.71 points to 80,746.78 on Wednesday and NSE Nifty increased by 34.80 points to close at 24,414.40 points. (Language)
Edited by: Chetan Gour
