Except IT, all other sectoral indices showed a declining trend.
The domestic market has started the first trading day of the week with a decline. Bombay Stock Exchange (BSE) Sensex was trading 123.75 points down at 79,099.36 at 9:51 am, while National Stock Exchange (NSE) Nifty was also trading at 23,943.05, down 61.70 points. Except IT, all other sectoral indices showed a declining trend. On Nifty, shares of Kotak Mahindra Bank, Tata Steel, Cipla, IndusInd Bank, Asian Paints showed weakness, while shares of Bajaj Finance, Bajaj Auto, Infosys, Titan Company and M&M saw gains.
Started in green mark but then the market broke
Although BSE Sensex had started trading by rising more than 50 points at 79,281.65 on Monday morning, but then it fell. On Friday, the Sensex closed at 79,223. National Stock Exchange’s Nifty 50 also opened with gains.
How is the trend in the Asian market?
Asian stock markets were mixed after Wall Street emerged from the holiday season slump, with bourses in Tokyo and China falling. Tokyo’s benchmark Nikkei 225 index fell 1.5% to 39,309.13, while the Hang Seng in Hong Kong fell 0.3% to 19,706.66. The Shanghai Composite Index fell 0.2% to 3,206.75. Markets ignored a report that China’s services economy grew at the fastest pace in seven months in December, while export business declined, according to a private sector survey.
The index rose to 52.2 in December, surpassing the 50 level separating expansion and contraction. Elsewhere in Asia, the mood was lighter. Australia’s S&P/ASX 200 rose 0.1% to 8,254.60 and Taiwan’s Taiex jumped 2.8%. In South Korea, the Kospi jumped 1.7% to 2,484.27, led by a 7.1% rise in computer chip maker SK Hynix Inc and a 2.6% rise in shares of Samsung Electronics, the country’s biggest company.
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