Share Market: Domestic markets made a comeback after a slow start
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Mumbai Domestic markets made a weak start on Wednesday due to weak trend in Asian markets and selling by foreign institutional investors (FIIs), but later made a comeback due to buying of Reliance Industries shares. Investors are cautious this week ahead of major announcements like the interim budget and the US Federal Reserve’s decision on interest rates.
BSE’s 30-share index Sensex fell 243.07 points to 70,896.83 points in early trade. Nifty also slipped 73.25 points to reach 21,448.85. However, later both the indices made a comeback and started trading with a positive trend. Sensex rose by 146.33 points to trade at 71,286.23 points and Nifty rose by 58.25 points to trade at 21,580.35 points. Among Sensex companies, shares of Larsen & Toubro fell by five percent. Shares of Titan, Kotak Mahindra Bank, ICICI Bank, Infosys, Axis Bank and State Bank of India also suffered losses. Shares of Tata Motors, Reliance Industries, Tata Steel and Bajaj Finserv rose.
In other Asian markets, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were among the losers. US markets closed mostly negative on Tuesday. Global oil benchmark Brent crude was trading 0.45 per cent lower at $82.50 per barrel. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 1,970.52 crore on Tuesday.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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