Chaos in share market, Sensex fell by more than 1300, Nifty also fell
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On Wednesday, January 17, the ongoing rise in the local stock market for the last five trading sessions came to an end. Amid the weak global trend, there has been a decline in the stock market due to selling of shares of IT and petroleum companies. On January 17, the Indian stock market opened with a huge fall. BSE’s 20-share Sensex has fallen 1371 points in early trade. After the fall, Sensex is trading at 71,757 points.
Apart from this, Nifty has fallen by 393.35 points. It is trading at the level of 21,636. There has been a decline of six percent in Sensex companies. Banking sector shares are also continuously trading at declining levels. It is believed that the market is continuously in the red, behind which there are many major reasons. For information, let us tell you that after the December quarter results of HDFC Bank among Sensex companies, its shares fell by six percent on Wednesday. HDFC Bank’s consolidated net profit for the October-December quarter stood at Rs 17,258 crore, up 2.65 per cent. It was Rs 16,811 crore in the September quarter. Shares of Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors and Bajaj Finance were also in the red.
On the other hand, shares of Tata Consultancy Services, Reliance Industries, UltraTech Cement, Infosys, HCL Technologies and Tech Mahindra were trading with gains. In other Asian markets, South Korea’s Kospi, China’s Shanghai Composite and Hong Kong’s Hang Seng were among the losers. Japan’s Nikkei was in gain. Global oil benchmark Brent crude fell 0.57 percent to $77.84 a barrel. According to stock market data, foreign institutional investors (FIIs) had bought shares worth Rs 656.57 crore on Tuesday.
There was a decline on Tuesday also
The bullish trend that had been going on for the last five trading sessions came to an end on Tuesday in the local stock market. BSE Sensex fell 199 points due to selling in shares of IT and petroleum companies amid weak global trend. The 30-share BSE Sensex closed at 73,128.77, down 199.17 points, or 0.27 percent. The Sensex opened weak but later gained momentum and reached its all-time high of 73,427.59 points.
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