The market fell for the seventh consecutive day, the Sensex fell by 188 points, the monetary policy of the RBI was checked


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The domestic stock market failed to sustain Thursday’s early gains and continued to decline for the seventh straight trading session. Investors have taken a wait-and-see attitude before announcing the Reserve Bank of India’s monetary policy. Traders say sales by foreign institutional investors added to the pressure.

Mumbai’s domestic stock market failed to sustain Thursday’s early gains and continued to decline for the seventh consecutive trading session. Investors have taken a wait-and-see attitude before announcing the Reserve Bank of India’s monetary policy. Traders say sales by foreign institutional investors added to the pressure. However, there has been some hiatus from a correction in the value of the rupee. BSE Sensex 30 shares closed at 56,409.96, down 188.32 points or 0.33 percent. During trading, it rose to 57,166.14 points in the high and fell to 56,314.05 points.

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Similarly, the National Stock Exchange’s Nifty closed at 16,818.10, down 40.50 points or 0.24 percent. Asian Paints was the biggest winner at 5.22 percent of the 30 Sensex shares. In addition, Tech Mahindra, Titan, Kotak Mahindra Bank, TCS, Bajaj Finance, Wipro and Bajaj Finserv were the big winners. On the other hand, the winners are ITC, Dr. Reddy’s, Tata Steel, Sun Pharma and Nestle India, Mahindra & Mahindra and NTPC. Of this there was an increase to 2.51 percent. Vinod Nair, Head of Research, Geojit Financial Services, said: “The initial rally in the domestic market was short-lived due to the weak trend in global stock markets and the depreciation of the rupee.

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With the bond yield gap between India and the US narrowing to a multi-year low of 3.48 percent, foreign investors are drawing money from the Indian market. In such a situation, the market expects a 0.50 percent increase in RBI’s key rate. Investors are eagerly awaiting the intervention of the RBI to increase liquidity in banks, monitor currency depreciation, and monitor the monetary stance statement and GDP (gross domestic product) outlook.” Kotak Securities Ltd. Head of Equity Research (Retail) Shrikant Chauhan, Ltd. said the market remained volatile on the final day of settling positions in the futures and options segment, with traders selling some interest-rate-related stocks ahead of the monetary policy announcement on Friday.

He said: “Stock prices have already fallen in the market and if the policy rate hike is more than expected, there could be volatility in trading and the downward trend could continue for some time. The Reserve Bank will present its monetary policy review on Friday. In other Asian markets, Kospi in South Korea and Nikkei in Japan ended in gains, while China’s Shanghai Composite and Hang Seng in Hong Kong ended in losses.

Major markets in Europe were in a downtrend early in trading. The US market was bullish on Wednesday. Meanwhile, the international oil benchmark Brent oil fell 0.45 percent to $88.92 a barrel. The rupee appreciated 13 paise to 81.80 against the US dollar. Foreign institutional investors sold shares worth Rs 2,772.49 crore on Wednesday, according to stock market data.

Disclaimer:Prabhasakshi has not edited this news. This news is published from PTI language feed.