The stock market ended negative on Monday, the first trading day of the week. Following this, the Bombay Stock Exchange benchmark Sensex lost another 94 points.
Following the mixed Asian markets, domestic markets began to turn negative. However, during the afternoon session, shares of leading companies gained some ground and lost positive trades. The three-day monetary policy meeting of the Central Reserve Bank (RBI) this week began on Monday. RBI’s Bank Interest Rating Board is expected to announce another hike in interest rates. Thus, the market is suffering from not knowing which direction to go.
Reserve Bank Governor Shaktikant Das will announce the decision of the Monetary Policy Committee (MBC) on Wednesday. Thus, the market has been acting cautiously this week. Following this, stockbroking firms reported that investors had reduced their involvement in interest-related sector stocks such as real estate.
2,021 shares of the company’s stock price: Out of the total 3,557 companies traded on the Mumbai Stock Exchange, only 1,373 shares were listed on the gains list. 2,021 shares came on the fall list. 163 shares remained unchanged. 72 stocks recorded new 52-week highs and 75 stocks recorded new lows. The market capitalization declined by Rs 59,000 crore to Rs 256.41 lakh crore at the end of trading. Meanwhile, foreign institutional investors sold shares worth Rs 3,770.51 crore on Friday, the last trading day of the week, and withdrew their investments, according to market data.
Second day decline:
The Sensex, which had started the morning at 15,510.64, was down 158.59 points at 55,295.74. Then, it went up to a high of 55,832.28
The Sensex eventually lost 93.91 points (0.17 per cent) to close at 55,675.32. The Sensex had lost 473.49 points at one point as the ups and downs were high throughout the day. After that it recovered somewhat, but ended negatively. Following this, the Sensex fell for the second day in a row.
Nifty down 15 points: Only 729 stocks gained on the National Stock Exchange. 1,223 shares were on the fall list. In the Nifty list, 21 stocks were on the gains list and 29 stocks were on the fall list. The Nifty, which started the day at 53,60 points lower at 16,530.70, fell to 16,444.55. Then, the Nifty rose to a high of 16,610.95 and finally fell 14.75 points (0.09 percent) to 16,569.55.
Rupee value 77.66
Their contribution to the foreign exchange market has been low as the announcement of the Reserve Bank’s interest rate policy decision has become the expectation of most. The rupee remained unchanged at 77.66 against the dollar in early trade on Monday.
crude oil
$ 120 per barrel
Brent crude rose 0.60% to $ 120.44 a barrel in early trade on Monday.
Concerned LIC investors …
Shares of LIC, which is listed on the National Stock Exchange in Mumbai, have continued to decline amid recent high expectations. In this situation, the main support level broke the level of Rs 800 on Monday. Following that, the National Stock Exchange fell 2.97 per cent to close at Rs 776.50.
LIC, which started at Rs 800.25 in the morning, rose to a high of only Rs 801.70. Then, it went down to Rs.775.10 and recorded a new low price. Similarly, shares of LIC fell 2.86 per cent to close at Rs 777.40 on the Bombay Stock Exchange. At an IPO price of Rs 949, investors lost Rs 172.50 per share.
The stock had lost Rs 142.60 against the Bombay Stock Exchange price of Rs 920. Thus, those who have invested heavily in LIC stocks are of great concern, market sources said. Experts had earlier said in the same area that prices were likely to fall further if LIC broke the Rs 798 mark.
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