Stock Market News: Amidst weak signals from global stock markets, domestic stock markets closed with a decline on Thursday after three consecutive sessions of rise. BSE’s 30-share standard index Sensex fell 503.76 points or 0.60 percent to close at 83,313.93 points, whereas during trading it had fallen by 666 points at one time. At the same time, NSE’s standard index Nifty fell by 133.20 points or 0.52 percent and closed at 25,642.80 points.
Why is the market falling?
Among Sensex companies, shares of Eternal, Bharti Airtel, Bharat Electronics, ITC, Infosys, Reliance Industries, ICICI Bank and Asian Paints recorded the biggest decline, while shares of Trent, Tata Steel, State Bank of India and Bajaj Finance witnessed gains.
There was also a weak trend in Asian markets, where South Korea’s Kospi fell by almost four percent, Japan’s Nikkei and China’s Shanghai Composite remained in loss, while Hong Kong’s Hang Seng closed with gains.
Profit booking dominates the market
According to experts, in recent sessions there was a sharp rise in the market due to positive sentiment regarding the India-US trade agreement, but now profit-booking has become dominant. Apart from this, selling in technology stocks globally and increasing tension between America and Iran made investors cautious.
According to market data, foreign institutional investors bought shares worth Rs 29.79 crore, while domestic institutional investors made net purchases of Rs 249.54 crore. Meanwhile, in the international market, Brent crude fell by 1.32 percent to $ 68.54 per barrel.
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