Business Desk- Stock Market Today: After Diwali, there is ups and downs in the stock market today on 9th November. During trading, the Sensex fell 650 points from its day high, while the Nifty fell below 24,850. There was selling pressure in metal stocks, while there was a rise in pharma stocks.
Before the start of trading, there were signs of a positive market start. GIFT Nifty was at the level of around 25,018. This was about 38 points or 0.15% above the previous closing of Nifty futures. However, as the business progressed, selling in the market increased.
Sensex and Nifty fall
In today's trading, the Sensex fell by about 650 points from its day's high. At the same time, Nifty started trading below the level of 24,850. Investors booked profits amid the market decline.
The Sensex was down around 300 points or 0.40% at around 80,700 in early trade. Nifty also fell by about 100 points or 0.35% to the level of 24,900.
Selling in metal stocks, rise in pharma
Sector wise, pressure was seen in metal stocks today. Investors sold shares in this sector. On the other hand, there was buying in pharma shares and shares of the sector were seen trading with gains.
Apart from this, selling was also seen in IT and auto shares during early trading.
Asian markets boom
In contrast to the decline in the Indian market, there was a rise in the Asian markets. Japan's Nikkei rose 1,977 points or 3.44% to 59,411. South Korea's Kospi was trading at 5,136 with a gain of 69 points or 1.01%.
Hong Kong's Hang Seng also rose 30 points or 0.13% to 24,512.
Mixed business in US market
There was a mixed trend in the US markets in the last trading session. Dow Jones fell 237 points or 0.46% to close at 51,286.
At the same time, Nasdaq reached 24,579 with a rise of 264 points or 1.09%. The S&P 500 also gained 0.31% and closed at 7,377.
Foreign investors bought shares worth ₹42,845 crore in 7 days
Foreign institutional investors i.e. FIIs have made net purchases of Rs 42,845 crore in the Indian stock market in the last 7 days. Their net purchases in the last 30 days stood at Rs 40,577 crore.
On the other hand, domestic institutional investors i.e. DIIs sold shares worth Rs 24,505 crore in the last 7 days. Their net sales in the last 30 days stood at Rs 3,032 crore.
The market was closed due to decline in Muhurta trading.
The market also closed with a decline in the Muhurat trading held on November 8 on the occasion of Diwali. Sensex fell 28.62 points or 0.04% to close at 80,999.40. At the same time, Nifty fell by 43.95 points or 0.18% to 24,986.40.