The stock market has been up and down since Thursday morning. However, the Bombay Stock Exchange benchmark Sensex rose 113 points to close at 57,901.14. Subsequently, the four-day decline was put to an end.
Global market sentiment was positive. Following this, the domestic market started with enthusiasm in the morning but could not continue. Meanwhile, the US Federal Reserve has reportedly decided to phase out the purchase of bonds and raise bank interest rates twice each over the next two years. In addition, the continued withdrawal of investments by foreign institutional investors has greatly affected the investors’ appetite. As a result, stock trading brokerage firms reported higher selling at the close of trading. However, sources said that the market ended on a positive note with the support of market leader Reliance, leading IT company Infosys and financial institution Bajaj Finance.
1,858 shares fall: Out of a total of 3,453 shares traded on the stock exchange, 1,858 shares declined. 1,496 shares gained. 99 shares remained unchanged. 329 shares recorded new 52-week highs and 21 shares recorded new lows. Also, 491 stocks recorded highs and lows and 187 stocks fell further and lows. The market capitalization declined by Rs 38,000 crore to Rs 264.02 lakh crore at the end of trading. The number of registered investors was 9.02 crore.
Ups and downs increase: The Sensex was up 445.83 points at 58,243.43 in the morning trade, rising to 58,337.20. Then, the Sensex fell to 57,683.111 and finally stood at 57,901.14, up 113.11 points (0.20 per cent). Of the 30 top-ranked stocks in the Sensex, 16 declined. 14 shares gained. The Sensex was up 549.17 points at one point during the morning trade. However, the stock eventually lost most of its profits as sales increased.
Bajaj Finance Improvements: Leading financial institution Bajaj Finance and leading IT company Infosys topped the list with gains of 2.61 per cent and 2.9 per cent, respectively, after declining for the past two days. These were followed by Titan, Reliance and HCL Tech, which rose 1 to 1.50 per cent. In addition, M&M, Nestle, Tech Mahindra, NTPC, TCS and Tata Steel were among the gainers.
Maruti, ICICI Bank collapse: Meanwhile, popular car maker Maruti Suzuki India (MSI) fell 1.51 per cent and private sector lender ICICI Bank fell 1.50 per cent in the last two days. These were followed by Bajaj Auto, Sunboma, Indus Ind Bank, SBI, HDFC, Kotak Bank and Axis Bank.
Nifty up 27 points: 1,242 shares traded lower on the National Stock Exchange. Only 611 shares gained. The wide-based National Stock Exchange index Nifty was up 27 points (0.0.16 per cent) at 17,248.40. It started at 17,373.00 in the morning and rose to a high of 17,379.35. Then, it went down to 17,184.95. 28 stocks gained on the Nifty list. 22 stocks fell.
ID Code Upload: The Nifty ID index rose 1.10 percent on the National Stock Exchange. Consumer durables, oil and gas indices were also slightly higher. All other sector indices declined. The Nifty Media Index fell 1.77 percent. Nifty Bank, Auto, PSU Bank, Private Bank, Healthco and Palma indices fell 0.50 to 1 per cent.
ID stocks excitement
All the 10 stocks listed on the ID Index on the National Stock Exchange gained. Its detail (in percent)
LTI 2.52
Infosys 2.47
LTTS 2.09
Wipro 1.74
Mindry 1.27
HCL Tech 1.12
Kofoz 0.97
Tech Mahindra 0.66
TCS 0.41
Maphasis 0.27