Share Bazaar News: 1 percent declines in Sensex and Nifty due to increasing India Pak struggle
Share Bazaar News: The major share index Sensex and Nifty declined by more than one percent on Friday due to increasing tension on the border between India and Pakistan War. The 30 -share index Sensex of BSE continued to close at 79,454.47, continuing the fall of the 30 -share index Sensex, or 1.10 percent. The National Stock Exchange (NSE) index Nifty also fell at 265.80 points, or 1.10 percent, to close at 24,008 points.
India on Thursday night thwarted Pakistan’s efforts to attack various military locations including Jammu and Pathankot with drones and missiles. Earlier, the Indian armed forces had carried out accurate missile attacks on nine terrorist bases in Pakistan -occupied Kashmir (PoK) and Pakistan under ‘Operation Sindoor’ in the early hours of Wednesday. This action was taken in response to the death of 26 tourists in the Pahalgam attack.ALSO READ: Listing of Ether Energy shares in the market, how was it started?
Vinod Nair, head of research of Geojit Investment Limited, said that there was a conflict between the two countries in the current situation, but the market was not expected to be more serious. In such a situation, concerns have increased. However, given India’s strategic edge and Pakistan’s weak economic condition, it is still believed that this conflict will last for a short time.
He said that the interesting thing is that foreign institutional investors (FIIs) continued to invest in the Indian market till Thursday, while retail investors are a little cautious at the moment. Among the Sensex companies, ICICI Bank, Power Grid, UltraTech Cement, Bajaj Finance, HDFC Bank, Reliance Industries, Bajaj Finserv, Adani Ports, Mahindra & Mahindra and NTPC were significantly declined. On the other hand, shares of Titan, Larsen & Toubro, Tata Motors, State Bank of India and Asian Paints closed with gains.Also Read: Share Bazaar: Sustainable flow of foreign funds opened with stock market gains, Sensex 387 and NIFTY 114 points
According to the stock market data, foreign institutional investors on Thursday bought shares worth Rs 2,007.96 crore. South Korea’s Cappey and China’s Shanghai composite closed down in other markets in Asia. On the other hand, Nikki of Japan and Hangseng of Hong Kong closed in green mark. European markets were trading with an edge. The US markets shut down on Thursday. Global oil standard brant crude rose 1.53 percent to $ 63.80 per barrel. (Language)
Edited by: Chetan Gour
