Stock market could not maintain initial gain, Sensex closed down by 168 points

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Mumbai : Domestic stock markets could not maintain the initial gains on Monday. The Sensex, the major sensitive index of the Bombay Stock Exchange (BSE), closed with a decline of more than 168 points. According to the report of the news agency Bhasha, investor sentiment was affected by the continued withdrawal of capital from the market by foreign institutional investors and the decline in shares of Reliance Industries and HDFC Bank, which have a strong stake in the index.

Nifty closed down 0.34 percent

According to the report, the 30-share BSE Sensex closed at 60,092.97 points, down 168.21 points, or 0.28 per cent. At one point the Sensex opened strongly and went up to 60,586.77 points. Later it declined and during trading it went down to 297.35 points. The Nifty of the National Stock Exchange (NSE) also closed at 17,894.85, down 61.75 points, or 0.34 percent.

These companies were in loss

According to the agency’s report, Axis Bank, NTPC, HDFC Bank, Mahindra & Mahindra, ICICI Bank, Reliance Industries and Maruti were major losers in Sensex stocks. On the other hand, Tech Mahindra, HCL Technologies, Infosys, Wipro, Tata Consultancy Services and Power Grid were major gainers. In other Asian markets, Cospi of South Korea, Shanghai Composite of China and Hangseng of Hong Kong were in profit while Niki of Japan was in loss. There was a mixed trend in the major markets of Europe. US markets were in gains on Friday.

Wholesale inflation at 22-month low

Meanwhile, wholesale inflation eased to a 22-month low of 4.95 per cent in December. According to the report, inflation based on the Wholesale Price Index (WPI) came down to 4.95 per cent in December 2022 due to a decrease in the prices of food items and crude oil. However, the wholesale price based inflation was 5.85 per cent in November 2022 and 14.27 per cent in December 2021.

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