The local stock market closed almost flat on Wednesday (February 19) after swinging between red and green signals amid mixed trend in global markets. US President Donald Trump on Tuesday announced a 25% tariff on auto and drug imports in the country. Pharma and IT stocks declined after Trump’s announcement. Due to this, the market could not get the benefit of additional increase in heavy financial shares. Trump has also announced 25% tariff on semiconductor chips. He said that the new tariffs will be applicable from April 2.
The 30 -share BSE Sensex opened with a decline of 75,787 points today. It fell to 75,581 points during trading. Finally, the Sensex closed down 28.21 points or 0.04% to close at 75,939.18. Similarly, the Nifty 50 of the National Stock Exchange (NSE) also opened in the red mark. During trading, it reached the highest level of 23,049 points and a minimum level of 22,814 points. Finally it closed at 22,932 with a decline of 12.40 points or 0.05%.
Today IT stock remained under pressure. TCS shares closed down with a maximum decline of 2.28%. Apart from this, Infosys, Hindustan Unilever, Sun Pharma, Bharti Airtel, Power Grid, HCL Tech, Mahindra & Mahindra, Tech Mahindra, Bajaj Finserv were the major fall shares.
Today, the broad index smallcap and midcap increased by 2.4% and 1.6% respectively. However, the index are still trading below 21.25% and 17.1% from their all -time highest levels of September and December respectively.
The Indian stock market closed in red mark on Tuesday after a day interval between profits at a high level. Benchmark BSE Sensex and NSE Nifty closed with a sharp decline for the second consecutive day.
The 30 -share Sensex fell 29 points to close at 75,967 on Tuesday after touching a low of 75,531. Similarly, the 50 -share Nifty fell 14 points to close at 22,945. It reached the lowest level of 22,801.
