Share Market Opening: business desk. A decline is being seen in the stock market today i.e. on 17th August. In early trade, Sensex is trading around the level of 77,498.98, falling by more than 510 points. At the same time, Nifty has also fallen by about 123.95 points to the level of 24,242.05. Heavy selling is being seen in IT, Banking and FMCG stocks in the market. Investors are now eyeing the future direction of the market and the activities of foreign investors.
Despite the decline, there is still a stir in the market regarding IPO. From today onwards 2 IPOs i.e. Initial Public Offerings are open. These include Horizon Industrial Parks IPO and Lalita Jewelery Mart IPO. Investors will be able to bid in both IPOs till August 19. Lalita Jewelery Mart wants to raise around Rs 1,700 crore through IPO, while Horizon Industrial Parks wants to raise around Rs 2,600 crore.
More pressure in IT and banking shares (Share Market Opening)
In today's business, there is more selling pressure in IT and Banking sector shares. Apart from this, weakness is also being seen in FMCG Stocks. Amidst the decline in the market, investors are buying only selected shares. Due to weakness in Sensex and Nifty, the overall sentiment of the market also seems weak.
Asian market booming, yet Indian market weak (Share Market Opening)
Amidst the decline in the Indian market, there is a rise in most of the big Asian markets. South Korea's Kospi is up about 2.42%. Hong Kong's Hang Seng is also trading with a gain of about 1.62%. Japan's Nikkei is up marginally by 0.01%. That is, despite the strong performance of Asian markets, there is pressure in the Indian stock market today.
There was a decline in US market also on Friday
Earlier on Friday i.e. 14th August, a decline was also seen in the American stock market. Dow Jones closed down by about 108 points or 0.20%. Nasdaq declined by 74 points or 0.28%. At the same time, S&P 500 also closed down by 13 points or 0.17%. The effect of the weakness of the American market is also visible on the sentiment of the global markets.
FII sold shares worth Rs 747 crore in 7 days
The activities of foreign investors i.e. FII/FPI are also important for the market. According to available data, foreign investors have sold shares worth Rs 747 crore in the Indian market in the last 7 days. However, if we look at the data of the last 30 days, FII/FPI have made purchases worth Rs 2,884 crore.
On the other hand, DII i.e. Domestic Institutional Investors are continuously supporting the market. Domestic institutional investors have made purchases worth about Rs 10,576 crore in the last 7 days. DII purchases in the last 30 days have been around Rs 31,078 crore.
The market was closed in decline on Friday also
Earlier on August 14, the Sensex had fallen 70 points and closed at the level of 79,009. Nifty also fell by 29 points and closed at the level of 24,366. Now the market remains weak even in Monday's trading. In such a situation, investors will keep an eye on FII-DII Activity, IPO Subscription and Global Market Trends.
Don't forget to follow Read.Com's WhatsApp channel.