Stock Market Closed: Outcry in the local stock market for the second consecutive day, Sensex fell by 250 points; Nifty also slipped
Mumbai. Local stock markets declined for the second consecutive trading session on Tuesday. Selling in information technology (IT), petroleum and gas and select banking sector stocks amid uncertainty over the next round of US-Iran talks in Doha affected investor sentiment. Losing initial gains, the 30-share BSE Sensex closed at 76,478.67, falling 249.70 points or 0.33 percent.
At one time during trading, it had fallen by 398.98 points or 0.51 percent to 76,329.39 points. NSE Nifty also closed at 23,865.75, slipping 80.50 points or 0.34 percent. According to analysts, market sentiment was affected by fresh selling by foreign institutional investors (FIIs) and weakness in shares of major IT companies. Among the companies included in the Sensex, shares of Infosys, Tata Consultancy Services (TCS), HCL Tech, Tech Mahindra, ITC and Hindustan Unilever were the biggest losers.
At the same time, shares of Maruti, Titan, Bajaj Finance and Eternal closed with gains. Vinod Nair, Head of Research, Geojit Investments Limited, said, “Geopolitical concerns have subsided a bit, but the delicate situation of the peace deal between America and Iran is affecting the sentiment of investors due to which the market is not getting a clear direction.”
He said that the performance of various sectors was mixed, but the IT sector remained under the most pressure. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 and China’s Shanghai SSE Composite were in the lead, while Hong Kong’s Hang Seng closed with a loss. There was a bullish trend in the major stock markets of Europe in afternoon trading. American markets closed with gains on Monday.
The Nasdaq Composite was up 2.07 percent and the S&P 500 index was up 1.18 percent. The price of international standard Brent crude stood at around $ 73.32 per barrel with an increase of 0.23 percent. According to stock market data, foreign institutional investors (FIIs) were net sellers on Monday and sold shares worth Rs 1,350.1 crore. On Monday, Sensex closed with a fall of 372.10 points and Nifty with a fall of 109.75 points.
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