Tuesday, December 5th, 2023

The reason for the continuous decline in the stock market was found, due to which the market fell in September and investors suffered huge losses.

Photo:PTI Share Market

indian stock market The reason for the decline has been found. After four consecutive days of decline, it closed in the green on Monday. However, today it closed down again. The reason for the big fall in the market is tremendous selling by foreign investors. Let us tell you that the 10-year bond yield in America reaching its 10-month high of 4.54 percent and the dollar index reaching 105.94 have shocked the market. Due to this, foreign investors are continuously withdrawing money from the Indian market. Let us tell you that so far in the month of September, foreign investors have sold shares worth Rs 20,593 crore. V.K., chief investment strategist at Geojit Financial Services. Vijaykumar has said this.

purchases made by domestic investors

On one hand, while foreign investors are withdrawing money from the market, on the other hand, domestic investors and mutual fund houses are investing money. During this period, purchases worth Rs 13,748 crore have been made by domestic investors (DIIs). It remains to be seen how this tug-of-war will play out in the near future, he said. On the positive side, the strength of the Indian economy, good corporate earnings trend and inflows into mutual funds, especially SIPs, are supportive indicators. Meanwhile, long-term investors can use market weakness as an opportunity to buy financials, capital goods and auto stocks while ignoring near-term market volatility.

Sensex falls 78 points due to profit booking, Nifty also weak

Domestic stock markets fell on Tuesday and BSE Sensex lost 78 points. The market fell due to profit-booking in IT and bank stocks amid weak trend in other markets of Asia and continued withdrawal of foreign institutional investors (FIIs). The 30-share Sensex closed at 65,945.47 points, down 78.22 points or 0.12 percent. At one time during trading it had fallen by 158.06 points. 14 Sensex stocks were in loss while 16 were in profit. National Stock Exchange’s Nifty also closed at 19,664.70 points with a decline of 9.85 points or 0.05 percent.

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Fall in shares of these companies

Tech Mahindra, Infosys, Asian Paints, ICICI Bank, Kotak Mahindra Bank, Titan, IndusInd Bank and Bajaj Finserv were major losers among Sensex stocks. On the other hand, the profitable stocks include Nestle, Tata Steel, Mahindra & Mahindra, Bajaj Finance, HDFC Bank and Tata Consultancy Services. In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng were among the losers. There was a mixed trend in early trade in European markets. The American market was bullish on Monday. Global oil benchmark Brent crude fell 0.79 percent to $92.55 per barrel. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 2,333.03 crore on Monday.

Input: IANS

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