Stock Market News: The bullish trend in the stock market that had been going on for six consecutive days came to a halt on Tuesday. Due to weak trend in the global market and profit booking in IT, metal and capital goods stocks, BSE Sensex fell by 278 points (0.33%) and closed at 84,673.02, while NSE Nifty-50 also fell by 103.40 points (0.40%) and closed at 25,910.05.
decline in these shares
Among Sensex majors, Tech Mahindra, Infosys, Bajaj Finance, Bajaj Finserv, Eternal, Adani Ports, Hindustan Unilever and Bharat Electronics were major losers, while Bharti Airtel, Axis Bank, Asian Paints and Titan were among the gainers.
According to market experts, profit-booking by investors after the recent rally and weak signals from global markets kept the domestic market under pressure. Vinod Nair, Head of Research, Geojit Investments Limited, said that investment sentiment has weakened due to reduced chances of interest rate cuts by the US Fed in December.
Weakness dominates Asian market
Along with this, a decline was seen in IT, metal and realty stocks due to the strengthening of the US dollar. Weakness also prevailed in Asian markets, where South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng closed in the red. Major markets of Europe were also trading with a decline in afternoon trading, while American markets closed in loss on Monday. Meanwhile, Commerce and Industry Minister Piyush Goyal said that “good news” may soon be received regarding the proposed trade agreement between India and the US and the agreement will be fair, equitable and balanced.
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