Stock Market Today: After the rise, there are ups and downs in the stock market, know the condition of Sensex-Nifty.
Mumbai. Stock markets remained volatile on Monday after an early rise due to investor concerns amid ongoing tensions in West Asia and rising crude oil prices. BSE Sensex rose 236.64 points to 78,730.18 in early trade while NSE Nifty rose 66.65 points to 24,420.20. However, later there was volatility in the market and BSE Sensex fell by 27.41 points to 78,504.91, while Nifty fell by 11.80 points and was trading at 24,342.40 points.
Among the 30 Sensex companies, Trent, State Bank of India, ICICI Bank, Asian Paints, Adani Ports and Axis Bank were the major gainers. Shares of ICICI Bank were trading nearly two per cent higher after the bank on Saturday announced its January-March quarter results in which its net profit rose by 9.28 per cent to Rs 14,755 crore.
At the same time, a decline was seen in the shares of HDFC Bank, Eternal, InterGlobe Aviation and Infosys companies. Analysts said there were conflicting signals over the weekend that the Strait of Hormuz had been closed again, despite having been temporarily opened earlier on Friday. This change caused crude oil prices to rise again and raised concerns of supply disruptions and inflation.
International oil benchmark Brent crude was trading at $95.41 per barrel, up 5.57 per cent. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, China’s SSE Composite and Hong Kong’s Hang Seng index were trading in gains. American markets closed with significant gains on Friday. Foreign institutional investors bought shares worth Rs 683.20 crore on Friday. On Friday, the Sensex closed at 78,493.54 with a gain of 504.86 points, while the Nifty closed at 24,353.55 with a gain of 156.80 points.
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