First Published Dec 28, 2022, 9:53 AM IST
The Mumbai and National Stock Markets ended the last two days with highs and started trading lower today.
The US stock market opened yesterday after the Christmas break, but trading was sluggish with no major gains.
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Trade was positive yesterday as the easing of restrictions on foreign travelers in China gave investors confidence. However, the concern that the economic growth will be affected by the increasing spread of Corona remains among the investors.
Asian stocks have also remained muted since morning, with higher crude oil prices also worrying Indian investors. Foreign investment inflows are low and international factors are also causing pessimism among investors.
Moreover, since it is the end of the year, the market has seen a decline as investors are looking to sell stocks and take profits.
The Mumbai stock market was in decline before morning trade started. In early morning trade, the BSE Sensex was trading at 60,852, down 75 points. On the national bourse, Nifty fell 22 points to trade at 18,110
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Out of 30 major companies in BSE, 12 companies are in gain and 18 companies are in decline. Powergrid, NTPC, Titan, IndusInd Bank, Mahindra & Mahindra, AsianPaints, HDFC, Larsen Andpro, SunPharma, Maruti, ICICI Bank and Bajaj Finance were the gainers.
Information technology, media, financial services and public sector banking stocks fell on the Nifty. Shares in automobile, pharmaceuticals, metals, FMCG and banking sectors rose in price.
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On Nifty, Hindalco, Infosys, ONGC, Tata Steel, Bajaj Auto were the top losers, Powergrid, NTPC, TVS Labs, UPL, Asian Paints were the gainers.
Last Updated Dec 28, 2022, 10:04 AM IST