6 days ago
Sensex, Nifty Fall as HDFC Bank, Geopolitical Tensions Weigh
India’s main stock markets started Thursday lower.
The Sensex and Nifty are groups of company shares that show how the market is doing.
HDFC Bank and several technology and infrastructure companies lost value.
Some other companies, including Kotak Mahindra Bank and Bajaj Finance, gained value.
Investors remained careful because of continuing geopolitical tensions.
Asian markets sent mixed signals, with some markets rising and Hong Kong’s market falling.
US markets had ended lower on Wednesday, while oil prices also declined slightly.
Foreign investors nevertheless bought Indian shares worth ₹502.63 crore on Wednesday.
The Sensex and Nifty opened lower on Thursday amid selling in HDFC Bank and ongoing geopolitical uncertainty.
The Sensex fell as much as 153 points to 77,319, while the Nifty declined as much as 29 points to 24,178.
HCL Technologies, HDFC Bank, NTPC, Mahindra & Mahindra, Power Grid and Tata Consultancy Services were among the major laggards.
Kotak Mahindra Bank, Tech Mahindra, Bharat Electronics and Bajaj Finance traded higher.
Brent crude fell 0.44% to $87.45 per barrel, while foreign institutional investors bought Indian equities worth ₹502.63 crore on Wednesday.
- Who
- Indian equity markets, domestic investors and foreign institutional investors.
- What
- The Sensex and Nifty traded lower in early Thursday deals as HDFC Bank and other heavyweight stocks faced selling pressure.
- Where
- Indian stock exchanges, including the BSE and NSE.
- When
- Thursday morning in early trading; the previous session ended lower on Wednesday.
- Why
- Selling in HDFC Bank, weakness in other major stocks, continuing geopolitical tensions, weaker US markets and mixed global market signals affected sentiment.
Key facts
- Sensex movement
- The Sensex initially fell 45.17 points to 77,422.70, later traded 108.80 points lower at 77,368.68, and was reported to have fallen as much as 153 points to 77,319.
- Nifty movement
- The Nifty initially declined 6.40 points to 24,202.45, later traded 26.15 points lower at 24,189.70, and was reported to have fallen as much as 29 points to 24,178.
- Major laggards
- HCL Technologies, HDFC Bank, NTPC, Mahindra & Mahindra, Power Grid and Tata Consultancy Services.
- Stocks trading higher
- Kotak Mahindra Bank, Tech Mahindra, Bharat Electronics and Bajaj Finance.
- Brent crude
- Brent crude traded 0.44% lower at $87.45 per barrel.
- Foreign institutional investors
- FIIs bought Indian equities worth ₹502.63 crore on Wednesday.
- Previous session
- The Sensex fell 183.15 points, or 0.24%, to 77,472.94, while the Nifty declined 126.80 points, or 0.52%, to 24,207.75 on Wednesday.
Quotes
V K Vijayakumar
Chief Investment Strategist at Geojit Investments Limited
“Geopolitical tensions continue to weigh on markets”
deccanchronicle.com
rediff.com
Sources
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