Share market update news: Local stock markets declined for the second consecutive day on Friday due to heavy selling in financial, IT and oil and gas stocks amidst the frequent withdrawal of foreign capital. The Sensex fell 721 points, while the Nifty fell by 225 points, ie 0.90 percent declined to a month -low to 24,837 points. On Thursday, the Sensex fell 542.47 points to 82,184.17 points while the Nifty fell 157.80 points to close at 25,062.10 points.
The BSE’s 30 -share standard index Sensex fell 721.08 points, or 0.88 percent, closed at a one -month low at 81,463.09 points. At one time during trading, it fell 786.48 points to 81,397.69 points. The 50 -share index Nifty of the National Stock Exchange (NSE) also fell 225.10 points, or 0.90 per cent, to a one -month low to 24,837 points under selling pressure.
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Analysts said the weak trend in Asian and European markets also affected the notion of investors. On a weekly basis, BSE Sensex has fallen by 294.64 points i.e. 0.36 percent this week and NSE Nifty has fallen by 131.4 points i.e. 0.52 percent.
The shares of Bajaj Finance, one of the companies included in the Group of Sensex on Friday, declined by 4.73 percent after the June quarter results were announced. Apart from this, shares of Power Grid, Infosys, Tech Mahindra, Bajaj Finserv, Trent, Tata Motors, NTPC and Adani Ports also closed down. On the other hand, the shares of Sun Pharma and Bharti Airtel recorded an increase.
Vinod Nair, the research head of the Gijated Investments Limited, said, “domestic stock markets had widespread selling due to the soft -quarterly results and disappointing global signals of the companies.” High evaluation of major shares and short positions of foreign institutional investors also increased the decline.
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The index of small companies fell by 1.88 percent in BSE Smallcap and 1.46 percent in midcap index of medium companies. Among the region -wise indices, the utility segment recorded 2.37 percent, the power segment 2.36 percent and the oil and gas section 2.11 percent. 2,892 shares listed on BSE declined while 1,117 shares climbed and 145 others remained unchanged.
Ajit Mishra, Senior Vice President (Research), Railways Broking Limited, said, the process of decline in the market continued on Friday amid weak global signals. From the beginning of the business, there was a pressure on the standard indices to sell, which has an important role of disappointing results.
Mishra said that the recent decline in the market is affecting the trust of investors and the pressure of foreign institutional investors has increased pressure. According to the stock market data, foreign institutional investors (FIIs) on Thursday made a net selling of shares worth Rs 2,133.69 crore. However, domestic institutional investors (DIIs) bought shares worth Rs 2,617.14 crore.
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Japan’s Nikki Index in other markets in Asia, China’s Shanghai Composite and Hong Kong’s Hangseng closed down, while South Korea’s Korea closed in a positive realm. European markets were trading with a decline. On Thursday, the American markets were closed with a mixed trend.
India and Britain signed a historic free trade agreement on Thursday. From next year, 99 percent of Indian exports will get a fee-free admission in Britain, while India will reduce the fees on British products such as cars and whiskey. Global oil standard brent crude rose 0.32 percent to $ 69.40 per barrel. On Thursday, the Sensex fell 542.47 points to 82,184.17 points while the Nifty fell 157.80 points to close at 25,062.10 points. (Language)
Edited by: Chetan Gour
