Mumbai: Although the fall in crude oil prices was favorable on one hand, weakness in IT and Tata Group stocks led the key stock market indices, Sensex and Nifty, to end today’s trading on a mixed note.
In today’s trading, the Sensex rose 413.85 points to touch 74,728.44 points, and during the session it had also risen 413.85 points to 74,728.44 points. Due to the decline at the close of trading, the 30-share Sensex fell 19.63 points to 74,294.96 points, while the 50-share Nifty ended 75.80 points higher at 23,346.40 points.
As most Tata Group stocks ended lower, Tata Consultancy Services fell 4.33 percent, Titan 2.11 percent, Asian Paints 2 percent, Maruti 1.98 percent, Tech Mahindra 1.82 percent, and Tata Steel 1.73 percent in the Sensex. On the other hand, stocks including Adani Ports, Power Grid, HDFC Bank, and Bharti Airtel rose.
Amid fears over inflation, the rupee’s value, and India’s import costs, Brent crude oil falling to around $103.3 per barrel offered some relief, but Indian stock markets ended on a mixed note as investments were made in selected stocks amid favorable conditions in the Asian market.
However, weakness in IT and Tata Group stocks, along with IPO fund-raising being diverted, limited the overall recovery in the stock market.
The National Stock Exchange said that its public issue worth Rs. 22,569 crore was fully subscribed on the second day itself, thanks to the enthusiastic response it received.
European markets traded lower. U.S. markets closed higher yesterday (Thursday).
As for Asian markets, South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite Index, and Hong Kong's Hang Seng Index all rose.
According to the data, foreign institutional investors sold shares worth Rs. 3,208.76 crore on Thursday.
The international Brent crude oil price has fallen by 1.35 percent to $103.4 per barrel.
