Stock Market Closed: Stock market fell for the fourth consecutive day, Sensex suffered slight loss due to soft trend in global markets.
Mumbai. The local stock market declined for the fourth consecutive day on Thursday. BSE Sensex suffered a minor loss of 78 points while NSE Nifty closed stable due to uncertainty over the trade deal with the US and a soft trend in global markets. BSE’s benchmark index Sensex based on 30 shares closed at 84,481.81, down 77.84 points or 0.09 percent.
During trading it also reached a high of 84,780.19 points and a low of 84,238.43 points. In this way it fluctuated by 541.76 points. NSE’s benchmark index Nifty based on 50 shares remained stable at 25,815.55 points with a slight decline of three points or 0.01 per cent.
Among Sensex stocks, Sun Pharma, Tata Steel, Power Grid, Asian Paints, NTPC and Bharti Airtel were major losers. On the other hand, gainers included Tata Consultancy Services, Tech Mahindra, Infosys, Adani Ports, Axis Bank and HCL Tech.
Elsewhere in Asia, South Korea’s Kospi and Japan’s Nikkei indices declined, while China’s Shanghai Composite and Hong Kong’s Hang Seng remained in positive territory. There was a bullish trend in afternoon trading in the major markets of Europe. US markets closed with a decline on Wednesday.
Geojit Investments Ltd. Vinod Nair, head of research, said, “The initial rise in the stock market was due to buying at lower prices and the strengthening of the rupee due to the intervention of the central bank.” However, uncertainty over the US-India trade agreement weakened market sentiment. Due to this, profit booking was seen.
According to stock market data, foreign institutional investors (FIIs) became buyers after several days and bought shares worth Rs 1,171.71 crore on Wednesday. Domestic institutional investors (DIIs) also bought shares worth Rs 768.94 crore in previous trade. Global oil benchmark Brent crude rose 0.42 percent to $59.93 a barrel. The Sensex fell 120.21 points on Wednesday while the Nifty fell 41.55 points.
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