Mumbai, 14th July. There was a big fall in the domestic stock market on Tuesday amid the rise in crude oil prices due to US President Donald Trump’s announcement of collecting 20 percent duty from cargo ships in the Strait of Hormuz due to further increase in tension between Iran and America. BSE Sensex lost 561 points and stopped slightly above 77,000, while NSE Nifty lost 159 points and stopped near 24,000.
According to market analysts, investor sentiment was affected due to increase in crude oil prices due to increase in tension in West Asia. Besides, the withdrawal of foreign capital and the rupee falling below the level of 96 against the dollar also had an adverse impact on the market.
Sensex fell 561.46 points and closed at 77,054.94
After rising for three consecutive trading sessions, the Bombay Stock Exchange (BSE) benchmark index Sensex based on 30 shares closed at 77,054.94, falling 561.46 points or 0.72 percent. During trading, it fell 614.92 points or 0.79 percent to 77,001.48. Among Sensex related companies, shares of 24 registered a decline and only six were in profit.
Nifty fell 158.95 points and closed at 24,052.05.
On the other hand, Nifty, the standard index based on 50 shares of National Stock Exchange (NSE), closed at 24,052.05 points with a decline of 158.95 points or 0.66 percent. Among Nifty related companies, shares of 16 were in profit while 34 were in weakness.
If we look at the broader market, the BSE Midcap Select index related to medium companies fell by 1.01 percent while the Smallcap Select index related to small companies fell by 0.55 percent.
HCL Tech’s stock has the highest share of 4.42%.% decline
Among the companies included in the Sensex group, HCL Tech’s stock registered the biggest decline of 4.42 percent. Apart from this, Bajaj Finserv, InterGlobe Aviation, State Bank of India, Mahindra & Mahindra and Larsen & Toubro were also major losers. On the other hand, stocks in profit include Bharti Airtel, Tata Consultancy Services, Sun Pharma, Tata Steel, Adani Ports and Eternal.
FIIs sold shares worth Rs 3,062.27 crore
According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 3,062.27 crore on Monday. Global oil benchmark Brent crude rose 4.26 percent to $ 86.85 per barrel due to increasing tensions in West Asia. The rupee fell below 96 on Tuesday due to rising crude oil prices and withdrawal of foreign currency.
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