Stock market fell sharply due to Crude Oil Prices, Sensex fell by 1,342 points, Nifty below 24,000 points.
Mumbai. There was a big fall in local stock markets on Wednesday with BSE Sensex plunging 1,342 points while NSE Nifty fell below 24,000 points. Crude oil prices fell sharply in the stock market after a day’s gain amid the ongoing conflict in West Asia. According to traders, apart from this, the market also suffered losses due to capital withdrawal by foreign institutional investors and selling pressure in the shares of major banks.
BSE Sensex based on 30 shares fell 1,342.27 points or 1.72 percent to close at 76,863.71 points. It had fallen by 1,446.72 points during trading. At the same time, NSE Nifty based on 50 shares closed at 23,866.85 points with a decline of 394.75 points or 1.63 percent.
Among Sensex constituents, Bajaj Finance, Axis Bank, Bajaj Finserv, Mahindra & Mahindra, Maruti, Trent, Bharti Airtel and Kotak Mahindra Bank were major losers. On the other hand, shares of Sun Pharma and NTPC remained bullish. Global oil benchmark Brent crude rose 5.76 percent to $92.86 a barrel. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 4,672.64 crore on Tuesday.
However, domestic institutional investors (DIIs) bought shares worth Rs 6,333.26 crore. Among other markets in Asia, Japan’s Nikkei, South Korea’s Kospi, China’s Shanghai SSE Composite closed in the positive zone. While Hong Kong’s Hang Seng closed with a decline.
There was a downward trend in the major markets of Europe in afternoon trading. US markets closed with stable trend on Tuesday. The Sensex had risen 639.82 points to close at 78,205.98 points on Tuesday. Whereas Nifty had increased by 233.55 points to 24,261.60 points.
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