Mumbai: The domestic stock market witnessed volatility in early trading on Friday amid uncertainty in global markets, high crude oil prices and fall in American stock markets. After starting the trading with gains, Sensex and Nifty went into slight decline, however later both the indices recovered and started trading in the green.
Sensex fell by 25 points, bounced again
The 30-share BSE Sensex fell 25.97 points to 77,506.51 in early trade. At the same time, NSE Nifty of 50 shares also lost its initial lead and fell by 5.75 points to reach 24,223.10 points.
However, after some time buying appeared to return in the market. Sensex was trading 62.60 points higher at 77,595.14 points and Nifty was trading 10.65 points higher at 24,244.80 points.
The biggest rise in these shares
Among the 30 Sensex companies, shares of Kotak Mahindra Bank, Bharat Electronics, HDFC Bank, State Bank of India, Tata Steel and ICICI Bank were the biggest gainers.
In contrast, shares of InterGlobe Aviation, Titan, Hindustan Unilever and Trent declined.
Mixed trend of Asian markets
A mixed trend was seen in Asian markets on Friday. South Korea's Kospi, China's SSE Composite Index and Hong Kong's Hang Seng were trading in gains. Whereas Japan's Nikkei 225 remained in decline.
Earlier, American stock markets had closed with a decline on Thursday.
Crude oil price $93.50 per barrel
International oil benchmark Brent crude oil futures traded 0.30 per cent lower at $93.50 per barrel.
High crude oil prices are a matter of concern for the Indian market, as India imports a large part of its oil needs. In such a situation, expensive crude oil can affect inflation and costs of companies.
Foreign investors sold shares worth Rs 583 crore
According to stock market data, foreign institutional investors (FIIs) made a net sale of shares worth Rs 583.36 crore in the Indian stock market on Thursday.
However, the domestic market had performed strongly in the previous trading session. On Thursday, Sensex closed with a gain of 628.04 points and Nifty with a gain of 153.55 points.
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