Selling pressure in stock markets, Sensex slipped 454 points and closed at 72,643.
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Mumbai Amidst weak global market trends and withdrawal of foreign capital, there was once again selling pressure in the domestic stock markets on Friday and both the benchmark indices fell by more than half a percent. After a weak start in BSE, the 30-share index Sensex closed at 72,643.43 points, down 453.85 points or 0.62 percent. At one time during trading, the Sensex had fallen by 612.46 points to 72,484.82.
National Stock Exchange (NSE) index Nifty also fell by 123.30 points or 0.56 percent and closed at 22,023.35 points. In this way, one day the market again came under selling pressure. On Thursday, the Sensex was successful in recovering from the huge fall of the day before. Sensex was up 335.39 points or 0.46 percent while Nifty was up 148.95 points or 0.68 percent.
Among Sensex constituents, Mahindra & Mahindra, Tata Motors, NTPC, HCL Technologies, Larsen & Toubro, Infosys, Tech Mahindra and State Bank of India were major losers. On the other hand, Bharti Airtel, Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and IndusInd Bank closed with gains. In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei and Hong Kong’s Hang Seng closed with losses while China’s Shanghai Composite closed with gains. European markets were trading with slight gains.
There was a decline in American markets on Thursday. According to stock market data, foreign institutional investors (FIIs) made a net sale of shares worth Rs 1,356.29 crore on Thursday. In the broader market, the BSE Midcap index slipped 0.51 per cent while the Smallcap index gained 0.25 per cent.
Vinod Nair, head of research at Geojit Financial Services, said cautiousness towards midcap and smallcap stocks has weakened the market sentiment, leading to a decline in the broader market. However, softening global commodity prices and India’s GDP growth forecast for fiscal year 2024-25 raise hopes of stronger domestic demand. Brent crude, the international oil benchmark, fell 0.68 percent to $84.84 per barrel.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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