The stock market witnessed a decline for the second consecutive day on Friday. The market came under pressure due to withdrawal of money from the Indian market by foreign investors and selling of shares of major companies. The BSE Sensex closed down 55 points at 79,486 points, while the Nifty also fell 51 points to 24,148 points.

Selling by foreign investors and weak results of companies

The main reasons for the decline in the stock market were the selling by foreign institutional investors (FIIs) and disappointment related to the quarterly results of companies. FIIs had sold shares worth Rs 4,888 crore the previous day, causing turmoil in the market. Shares of many big companies fell, such as Reliance Industries, ICICI Bank and State Bank of India.

Experts say that investors are disappointed with the quarterly results and the withdrawal of FIIs has further weakened the market. Apart from this, the continuation of the interest rate cut by the US Federal Reserve has also affected the Indian market.

Slight increase in the shares of some companies

However, there was a positive trend in some parts of the market. Shares of companies like Mahindra & Mahindra, Titan, Infosys, Nestle and Hindustan Unilever saw a rise. These companies went up due to good results and positive market trend.

Global markets also declined

Along with the Indian market, the global markets also witnessed a mixed performance. Most of the major Asian markets like South Korea's Kospi, China's Shanghai Composite and Hong Kong's Hang Seng closed with a decline. However, Japan's Nikkei index was slightly up. European markets were also in decline, while the US market had registered a rise on the previous day.

fall in oil prices

On the other hand, the global oil market also declined. The price of Brent crude oil fell by 1.28 percent to $ 74.66 per barrel. Its effect was also seen in the Indian market, because India is dependent on imported oil.

Uncertainty in the market

At present, there is an atmosphere of instability and uncertainty in the Indian stock market. Investors are advised to remain cautious, as the market may continue to fluctuate in the future due to FII selling and weak results of companies.