Mumbai: The stock market indices Sensex and Nifty ended lower, weighed down by Reliance Industries, IT company stocks, rising crude oil prices, and fears ahead of the US Federal Reserve’s policy decision.
In morning trade today, the Sensex fell 995.1 points to 72,603.57. By the close of trading, after recovering much of its losses, the 30-share Sensex was down 352.64 points at 73,246.03, while the 50-share Nifty ended 50.90 points lower at 22,698.85.
Jio Platforms, which made a grand debut on its first day of listing on the Mumbai stock exchange, closed trading about 27 percent higher than its issue price of Rs. 1,119, emerging as India’s second most valuable domestic company after Reliance Industries in terms of stock market capitalization. Following this, Jio Platforms’ market capitalization rose to Rs. 13 lakh crore.
In the Sensex, Reliance Industries fell 3.46 percent, Infosys 3.34 percent, Tech Mahindra 1.83 percent, Tata Consultancy Services 1.68 percent, Bharti Airtel 1.42 percent, and Tata Steel 1.37 percent.
Shares of Larsen & Toubro rose 4% after it announced that, due to higher revenue, its consolidated net profit for the second quarter increased by 32.5 percent to Rs. 5,202.10 crore.
Shares including Trent, State Bank of India, Axis Bank, and InterGlobe Aviation rose.
Local stock markets traded with volatility and declined as investors remained anxious amid the surge in crude oil prices and the sharp sell-off in IT stocks. Concerns over disruptions to oil supplies arose following Houthi attacks on Saudi Arabia.
Based on the data, foreign institutional investors bought shares worth Rs. 4,240.39 crore in yesterday's trading.
In Asian markets, South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite Index, and Hong Kong's Hang Seng Index all closed higher.
The US stock market ended higher yesterday (Tuesday) as European markets traded lower.
Global Brent crude oil has risen 0.99 percent to $114.5 per barrel.
