Stock Market Today: Stock market weakened due to selling by foreign investors, Sensex and Nifty fell in early trade.
Mumbai. The Indian stock market had a weak start on Tuesday amid continuous withdrawal of foreign capital and increasing global tensions. Both BSE Sensex and NSE Nifty declined in early trade. According to market experts, the increasing tension between the US and Iran has affected the risk appetite of investors. Apart from this, the market is also under pressure due to continuous selling by foreign institutional investors (FIIs).
In early trade, BSE Sensex fell 58.89 points to 77,649.63, while NSE Nifty was down 22.45 points at 24,216.05. Among the 30 companies included in the Sensex, shares of Eternal, HDFC Bank, Reliance Industries, Axis Bank, Sun Pharma and Maruti saw the biggest decline. HDFC Bank shares remained under pressure for the second consecutive trading session after weak quarterly results.
At the same time, shares of Tech Mahindra, UltraTech Cement, Asian Paints and HCL Technologies registered a rise. In Asian markets, South Korea’s Kospi was trading with a gain of 3.68 percent, Japan’s Nikkei 225 index with a gain of 2.41 percent and China’s Shanghai SSE Composite with a gain of 0.62 percent. At the same time, Hong Kong’s Hang Seng index remained with a slight increase.
Earlier on Monday, American markets had closed with a decline. In the international market, the price of Brent crude fell by 0.63 percent to $ 88.66 per barrel. According to stock market data, foreign institutional investors made a net sale of shares worth Rs 1,121.04 crore on Monday. On Monday, Sensex closed with a fall of 0.57 percent and Nifty with a fall of 0.39 percent.
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