There were ups and downs in the Indian stock market today. In morning trade, the 30-share BSE Sensex was trading at 77,770.74. This is down about 435 points or 0.56% from the previous close of 78,205.98. Meanwhile, the 50-share NSE benchmark Nifty 50 was trading 110 points lower at 24,150.
Top Gainers and Losers
Shares of Wipro, Tata Steel, Power Grid, Bajaj Finserv and Tech Mahindra are rising in early trade. Shares of Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Reliance Industries and Apollo Hospitals are falling. Due to the fall in Bank Nifty, Sensex is currently trading in the red.
Asian Market:
Asian markets witnessed gains on Wednesday due to fall in crude oil prices. Japan’s Nikkei 225 jumped 1.36%, while the Topix gained 1.22%. South Korea’s Kospi rose 2.52%, while the small-cap Kosdaq rose 1.39%. Hong Kong’s Hang Seng index futures traded at 25,936, compared with the previous closing of 25,959.9.
wall street trading
The US stock market closed down on Wall Street on Tuesday. Investors were focused on falling oil prices and the war situation in Iran. The S&P 500 fell 0.21% to 6781.48. Similarly, the Dow Jones Industrial Average fell 34.29 points or 0.07% to 47706.51. However, the Nasdaq Composite closed 0.01 percent higher at 22697.10.
Crude prices fell
Crude oil prices came back up from their low on Wednesday morning. WTI crude prices are trading 0.03 percent lower at 83.43 after US President Donald Trump hinted at an end to the war with Iran. Brent crude is now trading in the range of $87-90 per barrel, down from the previous session’s high of $119.50 per barrel.
According to a report by The Wall Street Journal, the International Energy Agency (IEA) has proposed to release the largest oil reserve (Emergency Oil Reserve) in its history to reduce crude oil prices after they surged during the war with Iran. This would involve releasing more than 182 million barrels of oil.