Mumbai, 22 April. Due to the rising tension between America and Iran once again, the rise in crude oil prices and huge selling in Information Technology (IT) stocks, the rally that had been going on in the domestic stock market for the last three days came to a halt on Wednesday. BSE Sensex fell by about 757 points while NSE Nifty fell by 198 points and fell below 24,400.
Experts say the stalling of US-Iran talks has affected investors’ risk appetite as fears of long-term instability in West Asia have increased. Along with this, due to crude oil prices remaining at high level, pressure on inflation and currency stability has increased.
Sensex fell 0.95 percent and closed at 78,516.49 points.
Bombay Stock Exchange (BSE)’s benchmark index Sensex based on 30 shares fell 756.84 points or 0.95 per cent to close at 78,516.49 points. At one time during trading it had fallen to 831.03 points. Among Sensex related companies, 19 stocks remained in the red while 11 stocks showed an increase.
Nifty fell 198.50 points and closed at 24,378.10.
At the same time, Nifty, the standard index based on 50 shares of National Stock Exchange (NSE), fell by 198.50 points or 0.81 percent and closed at 24,378.10 points. Among Nifty related companies, shares of 20 gained strength and 30 declined. A mixed trend was seen in the broader market. The BSE Smallcap Select index of small companies rose 0.76 percent while the Midcap Select index of medium companies declined 0.04 percent.
Maximum decline of 3.66 percent in IT index
If we look at the sectoral indices, the maximum decline of 3.66 percent was recorded in the IT index, while the focus IT segment witnessed a decline of 3.54 percent, the financial services segment witnessed a decline of 0.64 percent and the private bank index witnessed a decline of 0.64 percent.
HCL Technologies shares highest 10.85% broken
Among the companies included in the Sensex group, shares of HCL Technologies fell the most by 10.85 percent. The company’s March quarter results could not impress investors and selling intensified. Apart from this, Infosys, Mahindra & Mahindra, Tata Consultancy Services, Tech Mahindra and ICICI Bank were also major losers. On the other hand, gains were registered in Hindustan Unilever, NTPC and Trent.
FIIs made net sale of shares worth Rs 1,918.99 crore
According to stock market data, foreign institutional investors (FIIs) made a net sale of shares worth Rs 1,918.99 crore on Tuesday. Brent crude, the international oil benchmark, rose 1.26 percent to $99.72 per barrel.
Comments are closed.