Stock Market Today: After showing bullish momentum for four consecutive days, a period of profit booking was seen in the domestic stock markets on the fourth trading day of the week (Thursday). The market closed with a decline due to investors taking profits at higher levels. BSE Sensex fell 153.09 points or 0.19 percent and closed at 81,773.66 points, below 82,000. At the same time, Nifty 50 index also fell by 62.15 points or 0.25 percent to 25,046.15 points.
Although, a slight rise was seen in both Sensex and Nifty in the initial session during trading, but later the market’s rise could not be sustained due to selling in big companies like Reliance Industries and HDFC Bank.
Shares of these companies fell
Major falling stocks in Sensex included Tata Motors, Mahindra & Mahindra, Bharat Electronics, UltraTech Cement, Trent, Sun Pharma, Power Grid and Reliance Industries. At the same time, the profitable stocks include Titan, Infosys, Tata Consultancy Services (TCS), HCL Tech and Tech Mahindra.
Vinod Nair, Head of Research, Geojit Investments Limited, said, “There was a volatile trend in the major indices. After the recent sharp rise, investors booked profits. Also, there is an atmosphere of caution in the market ahead of the second quarter results of the companies.”
Asian market decline
There was a decline in Asian markets – Japan’s Nikkei and Hong Kong’s Hang Seng indices closed in the red. The markets of China and South Korea remained closed due to holidays. There was a bullish trend in European markets till afternoon trading. At the same time, American markets closed with a decline on Tuesday.
Global oil standard Brent crude rose 1.16 percent to $ 66.21 per barrel. According to stock market data, foreign institutional investors (FIIs) bought shares worth Rs 1,440.66 crore on Tuesday, which provided partial support to the market. Earlier on Tuesday, Sensex rose 136.63 points to close at 81,926.75 points and Nifty rose 30.65 points to close at 25,108.30 points.
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