There has been a pause in the stock market’s rise since last four days, Sensex fell by 195 points, Nifty closed at 22,356.
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Mumbai The bullish trend that had been going on for four trading sessions in the local stock markets came to an end on Tuesday and the BSE Sensex suffered a loss of 195 points. The market fell due to selling in IT stocks and Reliance Industries, which has a strong stake in the index, amid a weak global trend and capital withdrawal by foreign institutional investors. The 30-share BSE Sensex closed at 73,677.13 points, down 195.16 points or 0.26 percent. During trading, at one time the Sensex had fallen to 460.04 points.
National Stock Exchange’s Nifty based on fifty shares also closed at 22,356.30 points with a decline of 49.30 points or 0.22 percent. Among Sensex companies, Bajaj Finserv and Bajaj Finance lost four percent each. Apart from this, Nestle, Infosys, Tata Consultancy Services, Wipro, UltraTech Cement, HCL Technologies, Larsen & Toubro and Hindustan Unilever also declined. On the other hand, the profitable stocks include Bharti Airtel, State Bank of India, Sun Pharma and NTPC.
Tata Motors shares gained 3.52 percent. During trading it had reached a high of 52 weeks. The stock gained momentum after the company announced the merger of its passenger and commercial vehicle business into two separate listed companies. In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei and Hong Kong’s Hang Seng were in loss while China’s Shanghai Composite was in profit. There was a declining trend in early trade in major markets of Europe.
The US market was declining on Monday. Global oil benchmark Brent crude fell 0.21 percent to $ 82.63 per barrel. Foreign institutional investors sold shares worth Rs 564.06 crore on Monday. BSE Sensex closed at a record 73,872.29 points on Monday and Nifty closed at an all-time high of 22,405.60 points.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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