in the stock market
Mumbai:
The early rally in the domestic stock markets on Wednesday did not last and both the benchmark indices BSE Sensex and NSE Nifty closed almost flat. Globally, the impact of the weak trend was seen on the stock market. The 30-share BSE Sensex ended up 11.43 points, or 0.02 per cent, at 65,087.25 points.
Also read this
Similarly, the 50-share National Stock Exchange’s Nifty also closed at 19,347.45 points with a marginal increase of 4.80 points or 0.02 percent. Asian markets were mixed while most major European markets saw a decline in early trade.
Vinod Nair, head of research at Geojit Financial Services, said the market was buoyed by initial positive sentiment. Markets were supported by soft labor market data in the US… This eased concerns about a policy rate hike. Limit.”
He said, “The fall in interest rates on housing loans in China also boosted sentiment. It had a favorable effect on metal stocks. However, as the business progressed, profits dwindled. The main reason for this is the soft trend in global markets due to weak economic data in Europe.
Nair said, “There was a selling effect in bank stocks. However, stocks of medium and small companies showed strength.
Among the Sensex stocks, Jio Financial Services, Tata Steel, Maruti Suzuki, Mahindra & Mahindra and Infosys were the major gainers. Foreign portfolio investors were net buyers on Tuesday, according to stock market data. He paid Rs. 61.51 crore worth of shares bought. Meanwhile, Brent crude futures rose 0.55 percent to $85.96 a barrel.