Stock Market Closing: The market started the week with a decline, Sensex 300 and Nifty fell by around 73 points, what was the reason?

By Sudhakar Yadav July 24, 2023 5:53 PM IST


Earlier on Friday, the market had closed with a fall.
Before Friday, there was a boom for 6 consecutive days.
Selling by foreign investors was seen in these 2 days.

New Delhi. Local stock markets declined for the second consecutive trading session on Monday and the BSE Sensex lost nearly 300 points. The market declined mainly due to heavy selling in major stocks. The thirty-share BSE Sensex closed at 66,384.78 points, down 299.48 points, or 0.45 percent. The National Stock Exchange’s Nifty also closed at 19,672.35 points, down 72.65 points, or 0.37 percent.

According to traders, the selling of foreign institutional investors (FPIs) and the rise in crude oil prices also affected the stock market. According to stock market data, foreign institutional investors sold shares worth Rs 1,988.77 crore on Friday. Apart from this, investors are also waiting for the monetary policy review of the US Central Bank Federal Reserve to be announced this week.

read this also- FPI Investments: Foreign investors’ confidence in Indian markets remains, ₹ 43,800 crore has been invested so far in July

where loss where profit
18 out of 30 Sensex stocks were in profit while 25 out of 50 Nifty stocks were in profit. IndusInd Bank (2.01 per cent), Bajaj Finserv (1.64 per cent), Mahindra & Mahindra (1.61 per cent), Power Grid (1.33 per cent) and UltraTech (1.15 per cent) were the top 5 gainers in Sensex stocks. On the other hand, ITC (-3.87 per cent), Kotak Mahindra Bank (-3.80 per cent), Tech Mahindra (-2.80 per cent), JSW Steel (-1.38 per cent) and Tata Steel (-1.03 per cent) were among the losers.

First fall after steady rise
Earlier, on Friday, the ongoing six trading sessions in the market came to an end and both the benchmark indices came down by more than one per cent. The Sensex closed at 66,684.26 points, down 887.64 points, or 1.31 percent. The Nifty also fell 234.15 points, ie 1.17 percent, to close at 19,745 points.

condition of foreign markets
There was a mixed trend in other markets of Asia on Monday. Japan’s Nikkei was in profit while Hong Kong’s Hangseng and China’s Shanghai Composite were in loss. Major bourses in Europe were mixed in early trade. US markets were in profit on Friday. Global oil benchmark Brent crude rose 0.73 percent to $81.66 per barrel.

(with language input)

Tags: BSE Sensex, business news in hindi, Nifty, stock market