Priyanka
Share
Share Market: The market started on a high note but was not able to maintain the momentum which in turn affected the market sentiment. Hence, the closing for Sensex-Nifty was in red as market participants lost money. The BSE sensex is down by 217.41 points settling at 74115.17 points while the NSE nifty also suffered a loss of 92.20 closing at 22,460.30 points. The decline in the market was due to fall in stocks like Reliance, Mahindra, Titan, Zomato. With a strong trend in the Asian markets combined with purchasing in the power sector-fired stocks, primary stock indices Sensex and Nifty were able to make positive gains during the early trading hours on Monday.
The 30-share BSE Sensex opened 324.67 points higher at 74,657.25. Similarly, the NSE Nifty opened 98.45 points higher at 22,650.95. Notable advances were seen in the Sensex stocks with Power Grid, Bajaj Finance, Bajaj Finserv, NTPC, Hindustan Unilever, Adani Ports, Bharti Airtel, Nestle India, HCL Technologies, and Infosys. As per the stock market, Foreign Institutional Investors (FIIS) sold equities amounting to Rs 2,035.10 Crores on Friday. On the opposite, Domestic Institutional investors(DII) exceeded the FIIS in the share purchase by 2,320.36 Crores.
The price of oil in the international market, Brent crude, decreased by 0.51 percent and is now priced at $70 per barrel.
Nair has concerns about potential volatility in the upcoming weeks. “Global adverse conditions are affecting market sentiment. Volatility will persist in the coming weeks, especially with the worsening unemployment rate and duty rate in the US,” remarked Nair. Furthermore, he stated that local macroeconomic indicators are supportive for investors seeking to accumulate new positions in low-priced stocks, as they suggest stronger growth in the intermediate term. Asian markets performed unevenly. European markets were lower in the afternoon session. Friday saw positive movement on Wall Street.
