The stock market eclipsed the 7-day rally, Sensex fell by 288 points

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The last 7 days of the stock market’s rally finally broke on Tuesday. The market, which started fast on the next day of Diwali, soon dominated profit-making. Due to which there was a break in the stock market and the BSE Sensex closed down by breaking 287.70 points. The reason for the fall in the stock market is believed to be the fall in Asian markets and selling by foreign institutional investors (FIIs).

The 30-share BSE Sensex could not sustain the initial rally and ended at 59,543.96, down 287.70 points, or 0.48 per cent. During trading, it went up to a high of 60,081.24 points and came down to a low of 59,489.02. The Nifty of the National Stock Exchange closed at 17,656.35, down 74.40 points, or 0.42 per cent.

There was a boom in these stocks

Among the Sensex companies, Nestle India’s stock fell the most by 2.83 percent. Nestle India, Hindustan Unilever, Bajaj Finserv, Kotak Mahindra Bank, HDFC, Reliance Industries, Bajaj Finance and Asian Paints were also among the losers. On the other hand, shares of Tech Mahindra, Maruti, Larsen & Toubro, Dr Reddy’s, State Bank of India, NTPC and M&M closed with strength.

what experts say

Vinod Nair, Head of Research, Geojit Financial Services, said, “The domestic market lost its early gains due to fall in stocks of FMCG companies and private banks making everyday products.” In the upcoming policy meeting, the focus of the market will be on the announcements of the central bank due to the apprehension of increase in interest rates. Heavy buying in banking stocks has supported the market sentiment.

Global markets fall

In other Asian markets, South Korea’s Kospi, China’s Shanghai Composite and Hong Kong’s Hang Seng ended lower, while Japan’s Nikkei closed with gains. Major markets in Europe were mixed in early trade. The US market Wall Street closed in gains on Monday.

Sensex rose 524 points in Muhurt trading

On the occasion of the beginning of the Hindu Samvat year 2079, the BSE Sensex closed at 59,831.66, up 524.51 points during the special one-hour Muhurta trading. On the other hand, Nifty closed at 17,730.75, up 154.45 points or 0.88 per cent. Meanwhile, international oil benchmark Brent crude fell 1.27 per cent to $92.08 a barrel. According to stock market data, foreign institutional investors were net sellers in the capital market. He sold shares worth Rs 153.89 crore on Monday. The stock markets will remain closed on Wednesday (October 26) on the occasion of Diwali Balipratipada.

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