Share Market Closing : IT Stocks Rush… Share Market Down for Second Consecutive Day, Sensex Falls by 250 Points

Investors seem to be looking forward to ongoing talks between the US and Iran. Therefore, the same situation was seen in the domestic stock market. Trading in the domestic stock market remained limited today. Finally, the BSE Sensex closed down 249.70 points, or 0.33 percent, at 76,478.67. The Nifty 50 index of the National Stock Exchange also closed down 80.50 points, or 0.34 per cent, at 23,865.75. Out of all this, IT stocks witnessed the biggest fall. The stock market has fallen for the second day in a row. What exactly was the situation? Which companies’ stocks fell?

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Seventeen out of 30 stocks closed lower

Seventeen out of 30 stocks in the Sensex closed lower. Shares of Infosys and TCS fell more than three percent. Shares of HCL Tech and Tech Mahindra also fell by more than two percent. Shares of Hindustan Unilever, ITC, Asian Paints and SBI also saw significant declines. Meanwhile, shares of Maruti, Titan, Bajaj Finance, Eternal and Adani Ports rose.

Broader market conditions

In the broader market, Nifty Midcap rose by 0.37% and Nifty Smallcap by 1.02%. Sector-wise, Nifty IT, Nifty Media and Nifty PSU Bank were the worst hit. In contrast, Nifty Realty, Nifty Consumer Durables and Nifty Chemicals witnessed the highest gains.

What do the experts think?

According to experts, the domestic market is currently in the consolidation phase. So he is dealing in a limited sphere with mixed tendencies. Although geopolitical concerns have eased, the fragile state of the US-Iran peace deal continues to weigh on market sentiment, leaving investors cautious.

He added that the performance of various sectors was mixed, but there was a downward trend and the IT sector was the worst performer. With inflation above target and economic activity picking up at a healthy pace, investors are keeping a close eye on upcoming US employment data and comments from the new Fed chairman to gauge interest rate moves.

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