Share Market Today Update: Sensex recovers after losing 600 points, recovery in Nifty, buying in IT shares

Business Desk – Share Market Today Update: On Monday (July 13), the first trading day of the week, the Indian stock market saw a big fall in the beginning, but recovered within some time. Sensex, which slipped more than 600 points in early trade, is now trading around 77,500 and Nifty at 24,200. The market remains almost flat at present. Buying is being seen in IT and consumer durable sectors, while there is pressure on FMCG, metal and realty stocks.

Sensex fell by more than 600 points in the opening

The business had a weak start. Sensex opened 606 points lower at 76,963, while Nifty opened 167 points lower. However, after some time, buying in the market increased and both the major indexes recovered most of the losses.

Maximum purchases in these sectors

During the recovery, investors especially bought shares in the IT and Consumer Durable sectors. On the other hand, selling pressure remained in FMCG, Metal and Realty sectors.

Crude oil near $79, market keeping an eye on global signals

The price of crude oil in the international market has increased by about 4% to around $79 per barrel. After US President Donald Trump’s statement that he considered the agreement with Iran to be over, there was a rise in oil prices in the global market. This is affecting the energy market as well as the stock market.

Downtrend in Asian markets

The impact of weakness in Asian markets was also visible on the Indian market.

Kospi (South Korea): 6,806 points, -9.05%
Nikkei (Japan): 67,243 points, -1.92%
Hang Seng (Hong Kong): 24,173 points, -0.02%
American markets closed with gains

US markets remained strong in the last trading session.

Dow Jones: 52,637 points, +0.29%
Nasdaq: 26,282 points, +0.29%
S&P 500: 7,575 points, +0.42%

Buying by foreign investors continues

In the last 7 days, foreign institutional investors (FII/FPI) have made net purchases of shares worth Rs 4,427 crore. At the same time, domestic institutional investors (DII) also invested Rs 4,484 crore. Total net purchases by DII in the last 30 days have been Rs 39,118 crore.

The market closed with record high on Friday

Earlier on July 10, the stock market had closed with a strong gain. Sensex closed at 77,569 with a rise of 828 points (1.08%) and Nifty closed at 24,206 with a rise of 244 points (1.02%). Despite the initial fall on Monday, the recovery of the market has given some relief to investors.