Image Source : PTI Stock markets fall for 2nd day on promoting in IT banking shares
Benchmark indices Sensex and Nifty declined for a second day in a row on Friday as a result of promoting in IT and banking shares amid international fund outflows and weak developments within the US markets. The 30-share BSE Sensex fell by 106.62 factors or 0.16 % to settle at 66,160.20. During the day, it declined by 388.17 factors or 0.58 % to a low of 65,878.65.
The NSE Nifty declined 13.85 factors or 0.07 % to complete at 19,646.05. “The better-than-expected US Q2 GDP information, although optimistic, hindered the temper of the home market because it signalled the possibilities of one other price hike. The Fed chief’s feedback a couple of data-centric method with out ruling out price hikes added to the uncertainty.
“Furthermore, the reversal of the buying trend by FII and the rise in US bond yields contributed to market volatility. However, Asian markets remained largely positive due to the BOJ’s decision to retain the policy rate, contrary to speculation about the removal of stimulus measures,” mentioned Vinod Nair, Head of Research at Geojit Financial Services.
From the Sensex pack, Bajaj Finserv, HDFC Bank, Tata Motors, HCL Technologies, Tata Consultancy Services, Axis Bank, Infosys, IndusInd Bank, Tech Mahindra and Maruti had been the most important laggards. NTPC, Power Grid, Mahindra & Mahindra, JSW Steel, Bajaj Finance, ITC and Reliance Industries had been among the many gainers.
In the broader market, the BSE midcap gauge jumped 0.55 % and smallcap index climbed 0.49 %. Among the indices, utilities rallied 2.61 %, energy jumped 2.57 %, realty (1.92 %), providers (1.01 %), FMCG (0.85 %) and commodities (0.56 %).
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Source: www.indiatvnews.com
