Sensex, Nifty Down Following Weak Asian Markets
Moving back from its record high, the benchmark Sensex slipped in gaining profit by more than 200 points on Tuesday morning trade in the midst of weak leads from worldwide markets. The BSE 30 index trembled down by 248.85 points to smack the lowest price of 36,034.40 closing with a daily low. After garnering a record intraday high on Monday with 36,443.98, Sensex was up with 232,81 points, closing at a new high of 36,283.25.
According to the stock brokers, if we leave aside the profit-bookings at all-time highs by companies, what upset the trading sentiments is the feeble trend in other markets of Asia, followed by losses in just one night at Wall Street.
The vast NSE Nifty also went down from its all-time closing records and slipped under 11,100 levels. The Nifty hit fresh intraday low today of 11,042.10 by losing 88.3 points. It had registered a record closing on Monday of 11,130.40 points.
Today’s trend for Nifty 50 Companies showed only 10 stocks in green and the rest 40 were flagged red.
Adani Ports, Asian Paint, Coal India, ICICI Bank, Wipro, Tata Steel, Dr Reddy’s, Power Grid, L&T, Kotak Bank and TCS incurred major losses that pulled down both the major indices from their record numbers.
Punjab National Bank, State Bank of India, Ashok Leyland, Bank of Baroda, Idea Cellular, Bharti Airtel and Tech Mahindra and were the most traded equity stock on National Stock Exchange.
In the meantime, FPI purchased shares with a net worth of Rupees 291.86 crore on Monday and Indian institutional investors bought shares worth Rupees 90.08 crore, provisional data accessible on the BSE prove.
The majority of Asian market was sinking when the markets opened.
The SSE stock market index was low by 0.41%.
The Dow Jones Industrial Average, also known as DJIA, closed with a drop of 0.67% in the stock market yesterday.