First Published Nov 25, 2022, 9:52 AM IST
The Mumbai and National Stock Exchanges closed yesterday at historic highs and started trading on a subdued note this morning.
Sensex was down 120 points at 62,152 points in Mumbai and Nifty was down 28 points at 18,456 points.
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While most sectors underperformed in the Nifty, public sector banking stocks grabbed the spotlight, with BSP shares continuing to rally since morning trade.
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The US stock market was off yesterday as it was Thanksgiving Day. But the day before yesterday, the US market ended with the announcement that the Federal Reserve will not stop raising interest rates. Its echoes were seen in the Indian market and the Asian market. But investors don’t know how the US stock market will fare today.
Due to which investors are a bit cautious about investing in any stocks, trading in Mumbai and National Stock Exchanges has been thin and sluggish since morning.
Out of 30 major companies in the BSE, 12 are gainers and 18 are decliners. Larsen and Toubro, AxisBank, Ultratech Cement, Maruti, Bharti Airtel, Tata Steel, ICICI Bank, IndusInd Bank, Reliance, Mahindra and Mahindra are among the gainers.
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In Nifty, shares of banking sector, public sector banks, private sector banks and speculators are turning hands with higher profits. Investors are paying more attention to these stocks. In particular, public sector bank stocks are trading with a gain of 1.77 percent since morning. FMCG sector stocks are in losses.
Last Updated Nov 25, 2022, 10:09 AM IST