Business Desk – Stock Market Today: A decline is being seen in the stock market today i.e. after the start of trading on 22nd September. Sensex is trading at 74,700 level after slipping more than 100 points.
At the same time, there is a decline of about 50 points in Nifty and it remains around 23,400. Selling is being seen in the market especially in IT and Banking Stocks.
What is the picture of market decline?
Today, investors in the domestic stock market are keeping an eye on global signals and the performance of different sectors. Major indices look weak due to pressure in IT stocks and banking stocks. Earlier on Monday, a strong rise was seen in the market.
Varmora Granito IPO opens from today
Meanwhile, there is movement in the IPO market today. Varmora Granito's IPO has opened for subscription from September 22. Investors will be able to bid in it till September 24. The company wants to raise Rs 708.02 crore through this IPO. The price band of the issue has been fixed at Rs 140 to Rs 148 per share.
Varmora Granito's IPO is a mix of Fresh Issue and Offer for Sale (OFS). According to the company, the amount raised from the new issue is to be used for repaying the loan and other corporate needs. The IPO is likely to be listed on BSE and NSE on September 29.
Boom in Asian Market
Unlike the Indian market, there is a bullish atmosphere in the Asian markets today. South Korea's Kospi is trading at 7,132 with a gain of 119 points or 1.79%. Whereas Hong Kong's Hang Seng is up by 152 points or 0.61% at the level of 25,194. Japan's Nikkei is closed today.
There was a rise in the US market also
There was strong trading in the American markets also on Monday i.e. 21st September. Dow Jones closed at 52,049, up 366 points or 0.71%. Nasdaq gained 600 points or 2.26% and reached 27,122. The S&P 500 also closed at 7,765, up 114 points or 1.49%.
FII sold shares worth Rs 5,218 crore in 7 days
Selling by foreign investors i.e. FII/FPI is also an important signal for the market. In the last 7 days, foreign investors have made a net sale of Rs 5,218 crore in the Indian stock market. In the last 30 days this figure stood at Rs 17,663 crore.
On the contrary, Domestic Institutional Investors i.e. DIIs are continuously buying. In the last 7 days, DIIs have made net purchases of Rs 11,343 crore. His purchases in the last 30 days stood at Rs 62,915 crore. Also on September 22, DII bought shares worth Rs 2,797 crore, while FII/FPI sold shares worth Rs 576 crore.
How was the rise in the market yesterday?
Earlier on September 21, there was a strong rise in the domestic stock market. The Sensex rose 564 points and closed at 74,859. Nifty also closed at 23,414 with a gain of 68 points. That is, after the rise of the day before, today the effect of profit booking and selling in selected sectors is visible in the market.
