Mumbai: There was pressure in the domestic stock markets during early trading on Wednesday. Investor sentiment remained weak due to rising crude oil prices and uncertainty in global markets. In early trading, both BSE Sensex and NSE Nifty were seen trading with a decline.
BSE Sensex fell 166.19 points to 77,070.93 in early trade. Similarly, NSE Nifty also slipped 59 points to 24,096.75.
Most pressure on these shares
Among the 30 companies included in the Sensex, shares of Tata Steel, Larsen & Toubro, Bajaj Finance, Bharat Electronics, Power Grid and Mahindra & Mahindra were the biggest losers during early trading.
However, there was no pressure on all the shares in the market. Shares of HCL Tech, Infosys, Eternal, Sun Pharma and Kotak Mahindra Bank were seen trading with gains.
Weakness in Asian markets also
Along with the domestic market, pressure was also seen in the Asian stock markets. South Korea's Kospi fell by 5.59 percent. Japan's Nikkei 225 and China's SSE Composite were also trading in decline.
At the same time, a slight increase was recorded in Hong Kong's Hang Seng. Earlier, American markets also closed with a decline on Tuesday.
Brent crude crossed 91 dollars
The rise in crude oil prices has further increased the market's concerns. The futures price of international oil standard Brent crude oil rose 0.67 percent to $ 91.63 per barrel.
Expensive crude oil could hit companies and sectors whose costs are directly affected by energy and fuel prices. For this reason, the rise in oil prices is being considered an important signal for the market.
Foreign investors made purchases
Despite the decline in the market, buying was seen from foreign institutional investors (FIIs). According to stock market data, foreign institutional investors made net purchases of shares worth Rs 1,651.53 crore on Tuesday.
However, despite this, there was a strong decline in the domestic market on Tuesday.
Sensex-Nifty were broken on Tuesday also
A day before this, on Tuesday, Sensex had closed down by 492.70 points, while Nifty had recorded a fall of 132.75 points.
In such a situation, the initial fall on Wednesday showed the situation of pressure in the market for the second consecutive trading session.
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