The decline in the stock market continued on Thursday and the BSE Sensex closed down 536. The market came down with a fall in HDFC Bank, Infosys and HUL amid weak trend in global markets. The 30-share BSE Sensex closed down 535.57 points, or 1.13 percent, at 46,874.36 points. This is the fifth consecutive trading session when the market has fallen. The National Stock Exchange (NSE) Nifty also lost 149.95 points, or 1.07 percent, to close at 13,817.55 points.
HUL was the biggest loser among the Sensex stocks. It declined by about 4 percent. Apart from this, the stocks that witnessed a decline include Maruti Suzuki, HDFC Bank, PowerGrid, IndusInd Bank, HCL Tech and Bajaj Finserv. The gainers include Axis Bank, SBI, ONGC and ICCI Bank.
Vinod Modi, head of strategy affairs, Reliance Securities, said, “Domestic market is declining mainly due to profit booking of investors before the budget. According to traders, the recent withdrawal of foreign institutional investors from the domestic capital market has also affected the investor sentiment.
Foreign portfolio investors (FPIs) remain net sellers in the capital market. As per provisional data available with the stock market, FPI sold shares worth Rs 1,688.22 crore on Wednesday. Other markets in Asia include Shanghai Composite Index, Hong Kong’s Hangseng, South Korea’s Kospi and Japan’s Nikki. There was also a downward trend in early trade in Europe’s major markets. The futures price of global oil standard Brent crude was trading at $ 55.39 a barrel, down 0.27 percent.
The major stock index Sensex fell by more than 520 points during early trade on Thursday due to the fall in large stocks such as HDFC, TCS, Infosys and ICICI Bank amid weak global cues. The 30-share BSE Sensex was down 523.14 points or 1.10 per cent at 46,886.79. The NSE Nifty fell 167.80 points or 1.2 percent to 13,799.70 points.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,688.22 crore on a gross basis on Wednesday, according to provisional data from the stock market. Global oil benchmark Brent crude futures were down 0.45 per cent to US $ 55.56 a barrel.
, the BSE Sensex fell 938 points to fall below the 47,500 mark on Wednesday due to nervousness among investors. At the same time, the NSE Nifty fell below the psychological level of 14,000. Sensex and Nifty closed down nearly 2 percent. The Sensex closed down 937.66 points, or 1.94 percent, at 47,409.93. The Nifty fell 271.40 points, or 1.91 percent, to 13,967.50 points. Overall, it lost 2,382.19 points, or 4.78 percent, in four sessions. Similarly, the Nifty has dipped 677.20 points i.e. 4.62 percent in four sessions so far.