Business: A decline was recorded in the major stock market indices Sensex and Nifty on Tuesday amid profit-booking and weak trend in Asian markets. The 30-share BSE Sensex closed at 84,628.16, down 150.68 points or 0.18 per cent. During trading, it fell 559.45 points or 0.65 percent to 84,219.39 points. Meanwhile, the 50-share NSE Nifty fell 29.85 points or 0.11 percent to 25,936.20. Rupee fell 7 paise to close at 88.26 (provisional) against the US dollar.
Condition of Sensex companies
Among the Sensex companies, Trent, ICICI Bank, Tech Mahindra, Bajaj Finserv, Mahindra & Mahindra, Power Grid, Tata Consultancy Services and Bajaj Finance were the major laggards. Tata Steel, Larsen & Toubro, State Bank of India, Kotak Mahindra Bank were the major gainers.
Investors showed caution before global events
Ponmudi R, CEO of online trading and wealth tech firm Enrich Money, said Nifty-50 traded in the range of 25,800-26,000 for most of the day. This reflects cautious sentiment ahead of major global events such as the US Federal Reserve’s policy outcome.
He said that the Indian stock markets witnessed a volatile session, but both Nifty-50 and Bank Nifty registered a sharp improvement in the last half hour of trading, due to which the stock market closed on a strong note.
There was a mixed trend in European markets
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng closed with losses. There was a mixed trend in the markets of Europe. On Monday, US markets closed in positive territory.
The price of Brent crude fell to $ 64.42 per barrel.
Global oil benchmark Brent crude fell 1.78 percent to $64.42 per barrel. According to exchange data, foreign institutional investors (FIIs) sold shares worth Rs 55.58 crore on Monday. However, domestic institutional investors (DIIs) bought shares worth Rs 2,492.12 crore in previous trade. On Monday, the 30-share BSE Sensex closed 566.96 points or 0.67 per cent higher at 84,778.84. Nifty closed at 25,966.05, up 170.90 points or 0.66 percent.
