Stock Market Today: Slight rise in market after flat start, impact of weakness in Asian markets
Mumbai. Sensex and Nifty traded flat in early trade on Tuesday. After the recent rally, investors are adopting a cautious approach. Stock markets witnessed sluggishness in early trade due to weak trend in Asian markets and fresh withdrawal of foreign investors.
BSE Sensex fell 57.43 points to 77,061.94 in early trade while NSE Nifty fell 31.6 points to 24,071.30. However, later both the major indices were seen trading with slight gains.
BSE Sensex rose 29.75 points to 77,123.82 and Nifty rose 20.80 points to 24,123.65. The market has been bullish in four out of five trading sessions last week and the index had registered gains in the last session also. Among the 30 Sensex companies, Infosys, Tata Consultancy Services, HCL Tech, Tech Mahindra, Tata Steel and Hindustan Unilever were the biggest losers.
Whereas shares of Sun Pharma, Trent, ICICI Bank, Axis Bank and NTPC remained in the lead. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, China’s SSE Composite and Hong Kong’s Hang Seng are trading in decline. A huge fall of about six percent was recorded in Kospi. The price of international standard Brent crude fell by 0.49 percent to around $ 77.53 per barrel. According to stock market data, foreign institutional investors (FIIs) were net sellers on Monday and sold shares worth Rs 635.91 crore.
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