The stock market ended negative for the second day in a row on Wednesday. Following this, the Bombay Stock Exchange benchmark Sensex lost another 566 points.
The comments by the governor of the US Federal Reserve, the central bank, have spurred expectations of a rise in bank interest rates and the possibility of the White House announcing additional sanctions on Russia. Following this, global market indicators were negative. Its impact was echoed in the domestic market.
For the second day in a row, HDFC Group stocks fell sharply, with key indices facing losses, according to stock trading brokers. In particular, traders attributed the decline to a sharp decline in shares of leading companies, including HDFC Dual, Infosys and TCS.
2,142 shares of the stock market rise: 1,277 shares of the 3,512 companies traded lower on the Bombay Stock Exchange. 2,142 shares gained. 93 shares remained unchanged. 183 stocks recorded new 52-week highs and 9 stocks recorded new lows. The market capitalization declined by Rs 16,000 crore to Rs 273.58 lakh crore at the end of trading. The number of registered investors has increased to 10.19 crore.
Day 2 Fall:
The Sensex opened 360.80 points lower at 59,815.71 with a weakness in the morning and touched a high of 59,941.57. Then, the Sensex fell to 59,509.84, eventually losing 566.09 points (0.94 per cent) to close at 59,610.41. Bears dominated the market from the start. Following this, the Sensex fell for the second day in a row.
HDFC Dual Company shares fall:
10 stocks gained in the Sensex, which includes 30 top-tier stocks. 20 shares fell in price.
Of these, both HDFC Bank and HDFC faced heavy selling for the second day in a row.
Thus, they fell to 3.50 percent and topped the fall list. These were followed by HCL Tech, Tech Mahindra, Infosys, TCS, Kotak Bank, Axis Bank, Dr Reddy’s Lab, M&M and Wipro, which fell 1 to 2 per cent. Also on the list were Bajaj Finance, Bajaj Finserv, Reliance, IndusInd Bank, Maruti Suzuki and ICICI Bank.
NTBC further improvement:
Meanwhile, NTPC, a public sector power company, rose 2.61 per cent for the second day in a row. In addition, Tata Steel, Power Grid, Bharti Airtel, Nestle, L&T and SBI were up 1 to 2 per cent.
Nifty down 150 points: 1,197 shares gained on the National Stock Exchange. 725 shares came on the losing list. 20 stocks gained in the Nifty list which includes 50 top grade stocks. 30 stocks fell. The Nifty index lost 149.75 points (0.83 per cent) to close at 17,807.65. The Nifty started the morning at 11,842.75, down 114.65 points and touched a high of 17,901.00. Then, it went down to 17,779.85.
Bank Index Fall: Nifty Bank, Private Bank, Financial Services, ID indices fell 1.20 to 1.70 per cent on the National Stock Exchange.
Pharma, Healthcare and Auto codes were also on the fall list. Meanwhile, the metal index was up 1.35 per cent and the PSU Bank index was up 1.99 per cent.