Share Market Indian stock markets closed in the red after opening in the green on Tuesday due to profit-booking dominating in the last hour. BSE Sensex fell 188.50 points to close at 74,482.78. Similarly, NSE Nifty fell by 57.10 points and closed at 22,586.30 points. There was a good rise in banking and auto stocks in today’s trading. There was a spectacular rise of about 5 percent in Mahindra’s stock. At the same time, there was a decline in IT, FMCG, Metal etc.
Let us tell you that Nifty touched its all-time high during trading. At the same time, Sensex reached near its highest level. NSE Nifty reached all-time high on Tuesday due to positive trend in global markets and fresh buying by foreign institutional investors. NSE Nifty was up 136.35 points at its all-time high of 22,779.75 in afternoon trade. On the other hand, the 30-share BSE Sensex was trading at 74,902.03 with a gain of 230.75 points or 0.31 percent. Among Nifty 50 stocks, Mahindra & Mahindra, IndusInd Bank, Power Grid and Hero MotoCorp were notable gainers. At one time the Sensex even crossed 75 thousand.
There was a decline in the shares of these companies
Among the companies included in the Sensex group, shares of Tech Mahindra, Tata Steel, JSW Steel, HCL Technologies, Tata Consultancy Services, Larsen & Toubro and Kotak Mahindra Bank saw the biggest decline. On the contrary, there was a bullish trend in Mahindra & Mahindra, Power Grid, Bajaj Finance, IndusInd Bank and Maruti. In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei and Hong Kong’s Hang Seng closed with gains while China’s Shanghai Composite closed lower. Most of the markets in Europe were trading with losses. American markets closed with gains on Monday.
Market fell due to profit booking
Global oil benchmark Brent crude rose 0.21 percent to US$88.59 per barrel. Vinod Nair, head of research at Geojit Financial Services, said, “Global markets were mixed ahead of the US Federal Reserve meeting. It seems that the market has already considered the possibility of interest rate cut in the near term as low.” There has been strong profit booking after the rise in the last few days.
Stock market will remain closed on Wednesday
Foreign institutional investors (FIIs) turned buyers on Monday after continuous selling. According to stock market data, foreign investors made net purchases of shares worth Rs 169.09 crore. On Monday, Sensex jumped 941.12 points to reach 74,671.28 points while Nifty rose 223.45 points to close at 22,643.40 points. Trading in domestic stock markets will remain closed on Wednesday on the occasion of Maharashtra Day.
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