Fall in the stock market for the second consecutive day, the market slipped due to selling in auto and finance companies

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Stock Market

Indian stock markets turned bearish on Friday after a strong start. After trading on the red mark during the day, the stock market finally closed with a fall for the second consecutive day. One of the main reasons for the decline in Indian markets is also the negative messages from foreign markets.

The 30-share BSE Sensex closed 87.12 points or 0.14 per cent lower at 61,663.48. It had fallen as much as 413.17 points, or 0.66 per cent, in the day’s trade. Similarly, the National Stock Exchange’s Nifty closed at 18,307.65, down 36.25 points or 0.20 percent.

Rapid slowdown in these companies of Sensex

Mahindra & Mahindra, Maruti, Bajaj Finance, IndusInd Bank, NTPC, Bharti Airtel, ITC and UltraTech Cement were major losers in the Sensex pack. On the other hand, Hindustan Unilever, Asian Paints, HCL Technologies, State Bank of India and Kotak Mahindra Bank closed with gains.

Mixed business in foreign markets

In other Asian markets, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hangseng ended with losses while South Korea’s Cospi closed with gains. European markets were trading with a positive trend in early trade. The US stock market Wall Street closed in decline on Thursday.

FII buying continues

According to the provisional data of the stock market, foreign institutional investors (FIIs) bought shares worth Rs 618.37 crore on a net basis on Thursday. Meanwhile, international oil benchmark Brent crude rose by 0.40 per cent to trade at $90.09 per barrel.

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