Mumbai: Due to the escalation of tensions between the US and Iran and the continued rise in crude oil prices, the Indian stock market opened lower and traded within a narrow range throughout the session. In the afternoon, although investors made attempts to help the market recover, the stock market continued moving toward a decline, and in the end the major indices closed at the day’s lowest levels.
At the close of trading, the Sensex fell 813.35 points to 74,764.23, its intraday low, while the Nifty declined 203.60 points to 23,431.50, its lowest level in the past three months.
In the Sensex, HCL Tech fell the most, by 4.55 percent. Meanwhile, shares including Infosys, Tech Mahindra, Tata Consultancy Services, HDFC Bank and Hindustan Unilever declined, while shares such as Adani Ports, Tata Steel, Trent and NTPC rose.
In the Nifty, shares including Infosys, HCL Technologies, Tech Mahindra, HDFC Life and Wipro fell. On the other hand, shares including Adani Enterprises, Max Healthcare, Adani Ports, Coal India and Tata Steel rose.
The Nifty Midcap and Nifty Smallcap indices each fell by 0.5 percent.
Sector-wise, the metal and energy indices rose 1.8% and 0.6%, respectively. The Nifty IT index fell by more than 3%, causing the biggest drag. Meanwhile, the realty index declined 2%, and the media, FMCG, and private bank indices each fell by nearly 1%.
Based on the data, foreign institutional investors sold shares worth Rs 123.19 crore yesterday.
More than 180 stocks, including TVS Holdings, Solar Industries, Pramal Pharma, and Divis Labs, hit their 52-week highs in today’s trading. On the other hand, more than 120 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.
As for the Asian markets, South Korea’s Kospi and Shanghai’s SSE Composite Index ended higher. Meanwhile, Japan’s Nikkei 225 and Hong Kong’s Hang Seng Index closed lower.
European markets traded lower. US markets ended lower yesterday (Tuesday).
The 2.67 percent rise in international Brent crude oil prices, which pushed them up to 100.5 US dollars per barrel, left everyone alarmed.
