Share market updates: Due to the continuous fall in the rupee against the dollar, the holding of the market has been affected. Apart from this, the investor’s sentiment has also been spoiled by the delta variant of Corona.
The market slipped for the third consecutive day.
Domestic markets also declined for the third consecutive day on Wednesday amid negative trend in global markets. The Bombay Stock Market (BSE) could not sustain the initial gains due to high selling by investors and finally the BSE Sensex closed with a fall of 67 points.
According to market sources, the trading sentiment remained weak due to the depreciating rupee against the dollar and lack of fresh buying. This is the reason why the 30-company-based BSE Sensex came under selling pressure after going up about 400 points at one point and finally closed at 52,482.71 points, down 66.95 points, or 0.13 per cent. Similarly, the Nifty of the National Stock Exchange (NSE) fell 26.95 points, or 0.17 per cent, to close at 15,721.50.
18 stocks out of 30 closed down
Power Grid was the biggest loser with a fall of 1.51 per cent in Sensex stocks. Along with this, Bajaj Finserv, ICICI Bank, HDFC, NTPC, HUL, Bajaj Finance and Larsen & Toubro also declined. On the contrary, shares of Infosys, Reliance Industries, Nestle India and Maruti Suzuki, Tech Mahindra and Ultra Tech Cement registered gains. Market sentiment remained negative. Of the 30 stocks included in the Sensex, 18 were in decline while 12 managed to maintain gains.
Corona’s delta version cause for concern
Vinod Nair, Head of Research, Geojit Financial Services, said that the delta form of the corona virus remains a matter of concern in Asian markets. At the same time, there is an eye on the US employment data in the global markets. June employment figures in the US are to be released this week. These figures play an important role in the monetary policy of the US Federal Reserve.
selling effect
Binod Modi, Head of Strategy, Reliance Securities, said, “In the last session of close of trading in the domestic stock markets, the selling pressure on profit-making continued to gain early. The market came down due to selling in financial stocks.
Profit-booking pressure from afternoon session
There was a lot of volatility in the market during trading. The start was strong but the early gains continued to go up due to profit-taking in the afternoon session. However, during this period, buying was seen in the shares of information technology, metal and auto companies. Pharmaceutical sector companies remained strong, while Reliance Industries also saved the market from falling further.
How was the condition of other Asian markets?
In other Asian markets, Hong Kong and Tokyo were in losses, while the markets of Shanghai and Seoul closed with gains. There was a situation of loss in the European markets till mid-day. On the other hand, Brent crude, the benchmark of international crude oil, rose 0.79 per cent to $ 74.87 per barrel. The rupee fell further by nine paise to Rs 74.32 against the dollar. Investor sentiment has been affected by rising crude oil prices.
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