Mumbai, 21 January. The decline in the domestic stock market is showing no sign of stopping due to increasing global tensions, weak global signals and continuous withdrawal of foreign capital amid its ongoing conflict with European countries over US occupation of Greenland. In this sequence, for the third consecutive day of the trading week on Wednesday, both the benchmark indices closed in the red.
Amid huge fluctuations, weakness in the rupee against the dollar and selling in financial, banking and consumption-related stocks also kept the market under pressure. Although the market recovered to a great extent from the day’s low due to buying in select stocks, the BSE Sensex fell by 271 points and went below 82,000, while the Nifty weakened by another 75 points.
Sensex fell 270.84 points and closed at 81,909.63.
Bombay Stock Exchange (BSE)’s benchmark index Sensex based on 30 shares closed at 81,909.63 points, falling 270.84 points or 0.33 per cent after heavy fluctuations. At one time during trading, the Sensex had fallen by 1,056.02 points to 81,124.45. The index also hit the day’s high at 82,407.05 with a gain of 226.58 points amid a total fluctuation of 1282.60 points. Among Sensex related companies, shares of 14 strengthened while 16 declined.
Nifty closed at 25,157.50 points
At the same time, Nifty, the standard index based on 50 shares of National Stock Exchange (NSE), slipped by 75 points or 0.30 percent and closed at 25,157.50 points. The index saw the day’s low of 24,919.80 and high of 25,300.95 amid swings of 381.15 points. Among Nifty related companies, shares of 18 rose and 32 declined. In the broader market, the BSE Midcap index of medium companies lost 1.01 percent while the Smallcap index of small companies lost 0.80 percent.
If we look at the sectoral index, the consumer durables segment witnessed the biggest decline of 1.28 percent, while the PSU bank witnessed a decline of 1.07 percent, the financial services segment witnessed a decline of 1.02 percent and the banking segment witnessed a decline of 0.94 percent.
ICICI Bank shares fell the most by 1.96 percent
Among the companies included in the Sensex group, shares of ICICI Bank fell the most by 1.96 percent. Apart from this, stocks of Trent, Bharat Electronics, Axis Bank, HDFC Bank, Larsen & Toubro, State Bank of India and Maruti Suzuki were also major losers. On the other hand, shares of Eternal, UltraTech Cement, InterGlobe Aviation (ie Indigo) and Reliance Industries registered gains.
FIIs sold shares worth Rs 2,938.33 crore
According to stock market data, on Tuesday, foreign institutional investors (FIIs) sold shares worth Rs 2,938.33 crore while domestic institutional investors (DIIs) made net purchases of Rs 3,665.69 crore.
Rupee falls by 76 paise against dollar
The rupee fell by 76 paise to its all-time low of 91.73 per dollar (provisional) against the US dollar. Meanwhile, international oil benchmark Brent crude fell one per cent to $64.27 per barrel.
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