Mumbai, First Published Feb 17, 2022, 5:11 PM IST
The stock market ended lower for the 2nd day in a row today due to lack of interest from investors due to international factors and Ukraine-Russia tensions. Both days the stock market has been in bear grip.
The stock market started the morning on a positive note. But tensions between Russia and Ukraine have not abated, and US warnings that Russia will invade at any time have left investors reeling. Thus, the stock market, which had been booming, went into decline. Points fell sharply as foreign institutional investors continued to sell shares.
At the close of trading, the Sensex was down 104.67 points at 57,635 on the Bombay Stock Exchange. Significantly, it rose to 58,346 points between trades
At the National Stock Exchange, the Nifty traded 17.60 points lower at 17,235. Between trades it rose to 17,442 points. The BSE has lost 700 points and the NSE 200 points in the last two days alone.
Shares of HDFC, Reliance Industries and Powergrid were the top gainers, followed by HDFC, Larsen & Toubro, ITC and Techmahindra.
Shares of ICICI Bank, Axis Bank, Ultratech Cement, IndusInd Bank, SBI, HDFC Bank, Kodak Bank and Sun Pharma fell.
Vinod Nair, Chief Analyst, Geojit Financial Services Limited, said: The US Federal Reserve has also not made a clear announcement about raising interest rates. Investors are not interested in investing in this volatile environment. Foreign institutional investors continue to sell shares and take investments. ”
Last Updated Feb 17, 2022, 5:11 PM IST