Share market fell after reaching all time high, Sensex fell by 377 points
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The bullish trend in the stock market continued on Monday and Tuesday, which stopped with the closing of the market on Tuesday. There was a record rise in the stock market for the last two days. After two days of record rise in the stock market, investors are now disappointed on Tuesday.
BSE Sensex fell by more than 377 points during market closing on Tuesday. Let us tell you that this decline in the stock market was seen before the release of inflation figures. The 30-share BSE Sensex saw a decline of 377.50 points or 0.54 percent on Tuesday evening. After this fall, the Sensex closed at 69,551.03 points. Even during trading, the Sensex had fallen by 484.68 points.
Apart from Sensex, Nifty of National Stock Exchange also closed with a fall of 90.70 points. The Nifty level stood at 20,906.40 points on Tuesday, when the market closed. During trading, Nifty also showed a rise and its level also reached a record high of 21,037.90 points. Apart from this, due to buying by foreign investors, both the major indices closed at record levels on the first day of the trading week. BSE Sensex had jumped to 70,057.83 points. Apart from this, Nifty also touched the figure of 20,997.10 points.
Regarding this remarkable rise seen in the stock market, Vinod Nair, Head of Research, Geojit Financial, said that after this rise in recent times, there was some decline in Nifty 50. The reason for this is that inflation is expected to remain high in the month of November due to increase in the prices of food items. Due to this, the Reserve Bank may delay the policy rate cut.” He said, ”On the contrary, the inflation scenario in the US remains stable. This will affect the monetary policy of the US Federal Reserve.
Let us tell you that many companies have suffered losses in the Sensex, which basically include IndusInd Bank, Maruti, Titan, Reliance Industries, NTPC, Mahindra & Mahindra, Kotak Mahindra Bank, HDFC Bank and Larsen & Toubro. The companies that have made profits include UltraTech Cement, JSW Steel, Axis Bank, Tata Consultancy Services, Wipro and ITC. Deepak Jasani, Head of Retail Research, HDFC Securities, said, “The two-day rally in Nifty came to an end in volatile trading. There was mild positive activity in most of the global stock markets. Investors should stay away from taking any big risks before the inflation data in America and the Central Bank meeting.
BSE Midcap, representing the bulk of shares, fell 0.40 per cent while Smallcap lost 0.27 per cent. In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were in the lead. There was a bullish trend in afternoon trading in most of the major markets of Europe. US markets were in profit on Monday. Meanwhile, global oil benchmark Brent crude was up 0.39 per cent at $76.33 per barrel. According to stock market data, foreign institutional investors bought shares worth Rs 1,261.13 crore on Monday.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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