Mumbai, 23 December. On Tuesday, the second trading day of the week, the Indian stock market opened with a slight decline and thus the streak of two consecutive sessions of growth in both Sensex and Nifty was broken. The market came under pressure due to selling in shares of IT and real estate sectors, while even the good signals received from markets around the world did not show much impact. Till the time of writing the news in early trade (around 9:20 am), Nifty was trading 7.5 points down at 26,164.20.
Whereas Sensex was at the level of 85,516.52 with a fall of 50.96 points. During this period, shares of Bajaj Finance, Power Grid, Tata Steel, Titan, L&T, NTPC, Trent and Kotak Mahindra Bank rose the most. At the same time, the biggest decline was recorded in the shares of Infosys, TCS, HCLTech, Asian Paints, Tech Mahindra, Eternal and Bharti Airtel. Broader markets witnessed mixed trade, with Nifty Midcap falling 0.18 per cent, while the Smallcap index rising 0.02 per cent.
Sector wise, Nifty IT was the biggest loser on Tuesday with a fall of 1.35 percent. This was followed by Nifty Realty (0.25 percent) and Nifty Consumer Durables (0.23 percent). On the other hand, Nifty Metal was seen trading with a gain of 0.51 percent and Nifty PSU Bank was seen trading with a gain of 0.41 percent. Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said that there are two big factors that will decide the direction of the market in the coming times.
At the domestic level, the condition of the economy and companies looks good and strong. Due to this, there is every possibility of rise in Nifty and Sensex and the market can reach new record levels. But if we talk about external factors, AI trading has picked up again, which is a slightly negative sign. Due to this, the money of foreign investors (FIIs) which was expected to return to India, may get delayed.
He said that in the coming time, market fluctuations may increase further due to AI trading. Now it remains to be seen what further impact it has on the market. There was tremendous growth in the domestic market in the last trading session i.e. on Monday. At the end of trading, Sensex closed at 85,567.48 with a rise of 638.12 points or 0.75 percent and Nifty closed at 26,172 with a gain of 206 points or 0.79 percent.
Comments are closed.