Share Market Close. The bullish trend in the stock market has stopped for the last six days, Sensex fell by 434 points.
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Mumbai The bullish trend that had been going on for the last six trading sessions in the local stock markets came to an end on Wednesday and the BSE Sensex fell by 434 points. The market remained in the red due to profit booking before the close of trading amid mixed sentiments globally. The 30-share Sensex remained strong during trading but finally closed at 72,623.09, down 434.31 points or 0.59 per cent.
At one time during trading it had gone as low as 72,450.56 points. Similarly, Nifty of National Stock Exchange closed at 22,055.05 points with a decline of 141.90 points or 0.64 percent. Nifty, based on fifty shares, strengthened on Tuesday and closed at an all-time high of 22,196.95 points. Among the companies included in Sensex, 20 remained in loss. Whereas 37 shares of Nifty remained in loss. Among Sensex stocks, NTPC was the biggest loser with 2.71 percent loss.
Apart from this, Power Grid, Wipro, HCL Tech, L&T and Tech Mahindra also declined significantly. On the other hand, Tata Steel, SBI, JSW Steel and IndusInd Bank were among the gainers. Vinod Nair, Head of Research, Geojit Financial Services, said the market is facing resistance at higher levels and valuations of indices like midcap, smallcap, which represent more stocks, are significantly higher. Due to this, investors are avoiding taking risks and giving preference to profit making.
He said, “The trend in global markets remained cautious. Investors are awaiting details of the Federal Reserve meeting. Meanwhile, global oil standard Brent crude futures fell 0.68 percent to $ 81.78 per barrel. Other markets in Asia were mixed, while most of the major markets in Europe were down in early trade. The US market was in loss on Tuesday. According to stock market data, foreign institutional investors sold shares worth Rs 1,335.51 crore on Tuesday. Sensex had gained 349.24 points on Tuesday and Nifty had gained 74.70 points.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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