Stock market closed: Slight fall in the stock market, Sensex fell by 70 points; IT shares got rapid support

Mumbai. Limited trading was seen in the Indian stock market on Tuesday. Sensex and Nifty closed with slight losses amid weakness in Asian markets and investor caution. However, buying in IT stocks kept the market from major decline.

Sensex slipped 69 points and Nifty slipped 10 points.

The 30-share BSE Sensex fell 69.86 points, or 0.09 percent, to close at 76,765.92. During trading, the Sensex touched a high of 76,988.48 points and a low of 76,672.77 points. At the same time, NSE Nifty closed at 23,985.35 points with a decline of 10.60 points or 0.04 percent. In the day’s trading, Nifty reached 24,041.15 points and came down to 23,954.60 points.

Rise in IT shares, pressure on banking and power sectors

Investor interest was seen in the shares of IT companies on Tuesday. Shares like TCS, Tech Mahindra, Infosys and Eternal registered gains. On the other hand, Hindustan Unilever (HUL)’s stock fell by about 7 percent due to weak quarterly results. Apart from this, shares of Bharat Electronics, NTPC, Power Grid and Reliance Industries also remained under pressure.

Relief to the market due to fall in crude oil prices

According to experts, the market got some relief due to easing of tension in West Asia and fall in crude oil prices. In the international market, Brent crude fell 2.82 percent to $ 85.87 per barrel. However, investors adopted a cautious stance in view of the monetary policy meetings of the US Federal Reserve, Bank of England and Bank of Japan this week.

Impact of weakness of Asian markets visible

The decline in major markets of Asia also affected the Indian market. South Korea’s Kospi, Japan’s Nikkei and China’s Shanghai Composite closed with losses, while Hong Kong’s Hang Seng was in slight gains.

Investors keep an eye on global signals

Market experts believe that in the coming days, US-Iran tension, crude oil prices and decisions of global central banks will decide the direction of the market. At present, range-bound trading is likely to continue in the Indian stock market.

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