Mumbai, First Published Mar 23, 2022, 3:43 PM IST
MUMBAI: The National Stock Exchange (BSE) traded higher this morning, ending the afternoon with a fall.
Boom in the morning
All the international factors were positive, so the Indian stock market started the morning trading with a boom. The United States has called on NATO countries to impose additional sanctions on Russia as the next step in the Ukraine-Russia war.
Foreign institutional investors, who have been withdrawing from the stock market for the past few weeks, invested Rs 384 crore yesterday alone, giving confidence to investors.
Investors are optimistic
RBI Governor Shaktikant Das also encouraged investors by saying that inflation in India was not a cause for concern and that there was no need to worry about a slowdown in economic growth.
Thus, investors eagerly bought and traded shares in the Mumbai Stock Exchange as trading resumed this morning.
Federal Bank
But fears that the US Federal Reserve will raise interest rates sharply, with petrol and diesel prices rising for the second day in a row, have raised concerns among investors about the possibility of rising inflation. Thus trade, which had been going well, headed for a slump in the afternoon.
Shares of Hero Motors plunged 4% following reports of an income tax raid on the home and offices of the founder of Hero Motors.
Decline
The Sensex ended 304 points higher at 57,684 on the Bombay Stock Exchange. At the National Stock Exchange, the Nifty fell 91 points to close at 17,223.
Metal profit
Metal stocks gained 1.67% on the Nifty. Following that, pharma and energy stocks gained. On the Mumbai Stock Exchange, metal stocks gained 1.99%. Shares of oil and gas, health and energy stocks traded higher.
18 Company shares plummet
Of the 30 major stocks on the Mumbai Stock Exchange, 18 ended lower. Shares of Tata Steel, ITC and Dr Reddy’s were among the gainers. Shares of HTCFC, Asian Paints, Infosys, Kotak Bank, Mahindra & Mahindra and Maruti ended lower.
Last Updated Mar 23, 2022, 3:43 PM IST