Image Source : PTI/REPRESENTATIVE Stock markets replace – October 16
Falling for the third-day working, benchmark fairness indices ended decrease on Monday amid weak developments in world markets and a spike in Brent crude oil costs because of geopolitical rigidity within the Middle East. The 30-share BSE Sensex declined 115. 81 factors to settle at 66,166. 93. During the day, it fell 243.36 factors to 66,039.38. The Nifty slipped 19.30 factors to 19,731.75.
From the Sensex pack, Nestle, Tata Consultancy Services, IndusInd Bank, Asian Paints, Bharti Airtel, Tech Mahindra, ExtremelyTech Cement, Kotak Mahindra Bank and Hindustan Unilever have been among the many main laggards. Tata Steel, JSW Steel, HCL Technologies, Axis Bank, Power Grid and Mahindra & Mahindra have been among the many gainers. In the broader market, the BSE smallcap gauge climbed 0.34 per cent and the midcap index gained 0.25 per cent.
Check indices’ report right here
Among the indices, telecommunication fell by 0.74 per cent, realty (0.39 per cent), teck (0.32 per cent), FMCG (0.28 per cent), companies (0.17 per cent), bankex (0.11 per cent) and IT (0.10 per cent). Commodities, client discretionary, power, industrials, auto and metallic have been among the many gainers.
“Persistent geopolitical tensions continue to weigh down the sentiment on equity, yet the mid and smallcap index witnessed bargain hunting ahead of festival-driven demand and optimistic Q2 results. If oil price moves higher in a sustained manner, it may elevate yields and operation cost, potentially straining margins in H2 FY24,” stated Vinod Nair, Head of Research at Geojit Financial Services.
How did Asian and US markets fare?
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended decrease. European markets have been buying and selling principally within the adverse territory. The US markets ended on a combined be aware on Friday.
Global oil benchmark Brent crude declined 0.39 per cent to USD 90.54 a barrel. Foreign Institutional Investors (FIIs) have been consumers on Friday as they purchased equities price Rs 317.01 crore, in line with alternate information.
(With inputs from PTI)
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