On Tuesday, the second trading day of the week, the stock market witnessed a sharp rise and fall. As the bear’s grip tightened, the market eventually ended negatively. Following this, the Bombay Stock Exchange benchmark Sensex lost 435 points.
Global market specifications were mixed. In the domestic market, which had been on a steady rise for the past two days, the stock market ended lower on the back of gains in shares of banks, financial institutions and real estate companies. In particular, shares of both HDFC and HDFC Bank rose more than 10 per cent each on Monday on reports of a merger. However, the gains in both the stocks were higher since Tuesday morning.
As a result, stockbroking firms said the decline was inevitable.
Russia-Ukraine war, investors turn their attention to bank interest rate hikes and inflation. Moreover, traders said there was a high demand in the market for medium and small company stocks which have been stabilizing for the last 5-6 months.
Foreign equity investors bought shares worth Rs 374.89 crore in the capital market on Tuesday, according to market data.
2,306 shares of the company’s stock price: Out of the total 3,507 companies traded on the Mumbai Stock Exchange, only 1,102 shares gained. 2,306 shares were on the fall list. 99 shares remained unchanged. 173 stocks recorded new 52-week highs and 10 stocks recorded new lows. The market capitalization rose by Rs 1.28 lakh crore to Rs 273.74 lakh crore at the end of trading. The number of registered investors has increased to 10.18 crore.
End of 2 day gains: The Sensex started the morning at 60,786.07, a gain of 174.33 points, not higher. Later, the Sensex traded higher as the stock traded higher
Went down to 60,067.18. The stock finally fell 435.24 points (0.72 percent) to close at 60,176.50. Despite the bull’s dominance in the beginning, the bear’s grip tightened as time went on. Thus, the two-day series was put to an end.
HDFC Dual Company Shares Decline: 14 stocks gained in the Sensex list, which includes 30-grade stocks. 16 shares fell in price. Of this, HDFC Bank’s share price, which had gained as much as 10 per cent in Monday’s trade, fell 2.98 per cent in Tuesday’s trade. In addition, Bajaj FinServe was down 2.14 per cent and HDFC was down 2.12 per cent. These were followed by Kotak Bank, Reliance, IndusInd Bank, Bajaj Finance, Infosys and Wipro, which fell by 1 to 2 per cent. Also on the list were SBI, ICICI Bank, Maruti Suzuki and Axis Bank.
NTPC progress:
Public sector powerhouse NTPC, meanwhile, topped the earnings list with 3.40 per cent and Power Grid 2.48 per cent. These were followed by ITC, Nestle, Titan, TCS, Hindustan Unilever, Asian Paint and HCL Tech, which rose 0.70 to 1.65 per cent.
Nifty down 96 points: The National Stock Exchange gained 1,350 shares. 578 shares came on the losing list. 25 stocks gained in the Nifty list which includes 50 top grade stocks. 24 stocks fell. The Nifty index lost 96 points (0.53 per cent) to close at 17,957.40. The Nifty, which started the morning at 18,080.60 with a gain of 27.20 points, touched a high of 18,095.45. Then, it went down to 17,921.55.
Bank Code Improvement:
The Nifty Consumer Durables Index rose 2.40 per cent on the National Stock Exchange. FMCG and auto indices rose 1.25 percent. Meanwhile, Nifty Bank, Financial Services and Private Bank indices fell 1.60 per cent.