Business

Nifty, Sensex will remain closed today due to elections, yesterday FPI sold shares worth Rs 3,411.73 crore

By News Update

Mumbai. Assembly elections have started in Maharashtra today, the effect of which is visible in the stock market, that is, due to this, the stock markets across the country remained closed on Wednesday. Let us tell you that in view of the elections, Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) observed trading holiday to facilitate voting in Mumbai and other parts of the state.

According to the BSE trading holiday list, markets remained closed for all equity segments, equity derivative segments and SLB segments. The holiday was announced in advance as the Maharashtra government declared election day as a public holiday. Normal business will resume on Thursday, November 21.

Trend seen in domestic stock market

Let us tell you that after continuous selling pressure in the beginning of this week, there was some bounce in the domestic stock markets yesterday. Market experts said the rise in Indian indices was due to oversold conditions in the market. However, foreign investors are still net sellers. On Tuesday, foreign investors sold shares worth Rs 3,411.73 crore, while domestic investors (DIIs) bought shares worth Rs 2,783.89 crore.

 

Banking and markets expert Ajay Bagga said, “There are still plenty of reasons for the fall in Indian stocks. FPI selling (though at a lower intensity), declining corporate earnings, slow economic growth and high real interest rates are what are slowing the pace of growth. The bounce in Indian markets should be seen as a bounce out of oversold areas. Perhaps foreign selling is reducing, we will know in a few days. We are growing in line with the Asian markets”.

Mixed trend seen in Asian market

Let us tell you that today on Wednesday, mixed trends were seen in the Asian markets. Except for South Korea's KOSPI index and Jakarta Composite, all other indices were trading with losses at the time of filing this report. The markets of Japan, Hong Kong and Taiwan were trading with losses.

Indian stock indices returned to the green zone on Tuesday after falling in the last seven consecutive sessions. The Sensex closed at 77,578.38, up 239.38 points or 0.31 per cent, while the Nifty closed at 23,518.50, up 64.70 points or 0.28 per cent. According to NSE data, Nifty Auto, Media, Realty and Consumer Durables sectors rose the most, while Metal, PSU Bank and Oil & Gas declined.

News Update 2227 posts 0 comments
You might also like More from author

Comments are closed.