Mumbai: The stock market’s benchmark indices, Sensex and Nifty, ended lower for the third straight day today, as concerns among investors were triggered by the instability of crude oil, rising global bond yields, and continued foreign outflows.
In morning trade today, the 30-share Sensex was up by about 533.16 points at 73,062.23. By the close of trading, the Sensex had fallen 48.78 points to 72,480.29, while the 50-share Nifty declined 95.75 points to settle at 22,620.45.
In the Sensex, shares of Eternal, Sun Pharma, Titan, Adani Ports, Tata Steel, and HDFC Bank fell, while shares including Kotak Mahindra Bank, ICICI Bank, InterGlobe Aviation, and Axis Bank rose.
The Nifty Metal and Pharma indices each declined by more than 1%. The consumer goods sector index saw a 0.8% fall. On the other hand, the public sector bank, private bank, real estate, and media sector indices gained between 1% and 2%.
Due to investors booking profits and the subsequent recovery in crude oil prices, along with the rise in global bond yields, the stock market lost momentum.
More than 120 stocks, including PB Fintech, Britannia Industries, Godrej Consumer, Waaree Energies, Havells India, Escorts Kubota, CG Consumer, DCM Shriram, General Insurance, and Wipro, hit their 52-week low.
According to the data, foreign institutional investors sold shares worth Rs. 9,980.22 crore on Tuesday.
In the Asian market, South Korea’s Kospi index ended lower, while Shanghai’s SSE Composite Index, Japan’s Nikkei 225, and Hong Kong’s Hang Seng indices closed higher.
European markets ended on a mixed note, while U.S. markets closed lower yesterday (Tuesday).
In today’s foreign exchange trading, the rupee rose by 16 paise to close at Rs. 95.82.
Global Brent crude oil prices rose by 0.54 percent to $103.1 per barrel.
Newly listed stocks on the stock market
Adroit Industries’ shares made a strong debut, rising 75.37% above the issue price of Rs. 134 to Rs. 235. In later trading, they climbed more than 85% and closed at Rs. 248.39.
Swastika Infra shares also had a good debut, listing at 8% above the issue price. It is noteworthy that the stock later rose 13% to reach Rs. 210.
Armee Infotech’s shares, which debuted on the stock market, had a weak listing at Rs. 375 per share and ended trading 20% lower at Rs. 300.
Elevate Campuses company shares fell 11.7% to close at Rs. 319.70 after being listed at a price about 2% lower than the issue price of Rs. 362.
