Mumbai : Due to continued withdrawal of foreign funds and selling pressure in some major companies, domestic stock markets witnessed decline for the third consecutive day on Thursday. BSE Sensex fell 495 points while NSE Nifty dived 221 points. Regarding this, analysts said that heavy selloff in shares of realty, automobile, consumer segment and consumer durable companies has negatively affected the market sentiment.
BSE's 30-share index Sensex fell 494.75 points or 0.61 percent and closed at 81,006.61 points. At one time during trading, it had slipped by 595.72 points to 80,905.64 points. The standard index Nifty of the National Stock Exchange i.e. NSE closed at 24,749.85 with a decline of 221.45 points or 0.89 percent. Among Sensex companies, Nestle has seen a decline of more than 3 percent.
Which stocks had a special performance?
Nestle, a manufacturer of daily consumer goods i.e. FMCG, witnessed a huge selloff in its shares after its net profit in the second quarter declined by 0.94 percent to Rs 899.49 crore. Apart from this, shares of Mahindra & Mahindra, Bajaj Finserv, UltraTech Cement, Titan, Maruti Suzuki, Axis Bank and Tata Steel also closed with a decline. On the other hand, shares of Tech Mahindra, Infosys, Larsen & Toubro, Power Grid and State Bank of India rose. According to stock market data, foreign institutional investors i.e. FIIs have continued to withdraw from the Indian market. They made a net sale of shares worth Rs 3,435.94 crore on Wednesday.
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Asian market situation
In other markets of Asia, South Korea's Kospi, China's Shanghai Composite, Japan's Nikkei, and Hong Kong's Hang Seng closed with losses. European markets were trading with gains. On Wednesday, US markets closed in positive territory.
price of crude oil
Global oil benchmark Brent crude rose 0.27 percent to $ 74.42 per barrel. On Wednesday, the Sensex fell 318.76 points to close at 81,501.36 and the Nifty closed at 24,971.30 with a loss of 86.05 points.
(with agency input)
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