Mumbai: Due to rising crude oil prices and the US-Iran conflict, investors’ interest in the stock market has been declining, and the stock market’s key indices, Sensex and Nifty, ended lower for the second consecutive day.
In today’s trading, selling in leading company shares such as ICICI Bank, HDFC Bank, and Reliance Industries also dragged the stock market down further.
In today’s morning trading, the Sensex fell 579.46 points and was trading at 75,553.35 points. At the close of trading, the 30-share Sensex ended down 555.23 points at 75,577.58 points, while the 50-share Nifty settled lower by 144.05 points at 23,635.10 points.
In the Sensex, stocks including ICICI Bank, Axis Bank, UltraTech Cement, Kotak Mahindra Bank, Reliance Industries, and HDFC Bank declined, while shares of Bharat Electronics, Adani Ports, Hindustan Unilever, and InterGlobe Aviation rose.
In the Nifty, shares of ICICI Bank, Axis Bank, SBI Life Insurance, L&T, and UltraTech Cement fell, while shares including Bharat Electronics, ONGC, HUL, Eicher Motors, and Adani Ports rose.
In the Nifty, the midcap and smallcap indices ended with slight gains.
Rising crude oil prices and uncertain stability continue to keep investors on edge, causing the Indian stock market to face a weak trend and hit a seven-week low.
Among the sectors, the private bank index fell 1 percent, the oil and gas index 0.67 percent, the Nifty Bank index 0.5 percent, and the information technology index 0.37 percent. Meanwhile, the media index rose 1.3 percent, the pharma index 0.7 percent, and the FMCG index 0.35 percent.
More than 200 stocks, including TVS Holdings, Solar Industries, Pramal Pharma, and Divi’s Labs, hit their 52-week highs, while more than 100 stocks, including Voltas, United Breweries, ICICI Lombard, Indiamart Intermesh, JK Lakshmi Cement, IRCTC, Cello World, Dabur India, P&G Hygiene, and Godrej Consumer, hit their 52-week lows.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, and Hong Kong’s Hang Seng index ended lower, while Shanghai’s SSE Composite index closed higher.
The European market traded lower. The U.S. stock market was closed yesterday (Monday) for Labor Day.
According to the data, foreign institutional investors bought shares worth Rs. 280.13 crore.
Global Brent crude oil rose 1.45 percent to $98.36 per barrel.
