Stock Market Closed: Stock market closed with stable trend, Sensex-Nifty made minor gains in volatile trading.
Mumbai. The bullish trend in the local stock market for the last two trading sessions came to an end on Tuesday and both the standard indices closed with almost stable trend in the volatile trading. BSE Sensex fell 42 points, while NSE Nifty ended with marginal gains. The market came down due to profit booking in shares of information technology and pharmaceutical companies. The 30-share BSE Sensex closed at 85,524.84, down 42.64 points or 0.05 percent.
During trading, it touched a high of 85,704.93 points and fell to a low of 85,342.99 points. The fifty-share NSE Nifty closed at 26,177.15, up marginally by 4.75 points or 0.02 percent. Infosys, Bharti Airtel, Adani Ports, Sun Pharma, Tech Mahindra, Eternal, Axis Bank and Maruti were major losers among Sensex stocks.
On the other hand, gainers include ITC, UltraTech Cement, Tata Steel and HDFC Bank. Elsewhere in Asia, South Korea’s Kospi, Japan’s Nikkei and China’s Shanghai Composite remained in the positive zone, while Hong Kong’s Hang Seng closed with losses. A mixed trend was seen in the afternoon trading in European markets. American markets closed with gains on Monday.
According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 457.34 crore on Monday. However, domestic institutional investors (DIIs) continued buying and bought shares worth Rs 4,058.22 crore. Global oil benchmark Brent crude rose 0.10 percent at US$62.13 per barrel.
Vinod Nair, Head of Research, Geojit Investments Limited, said, “The domestic market remained in a limited range and closed stable amid mixed signals from the global market. Selling pressure remained across most sectors, although financials and FMCG sectors provided minor support.
He said, “Investors are now making their strategies for the upcoming quarterly results of companies. At the same time, we are keeping an eye on the policy prospects of the Federal Reserve, because the possibility of cutting interest rates in the January meeting is gradually increasing. Sensex had gained 638.12 points on Monday, while NSE Nifty had gained 206 points.
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