A mixed and volatile environment was seen in the Indian stock market on Wednesday. After the spectacular rise of the last session, today the market kept oscillating between profit and loss throughout the day. Rising crude oil prices in the international market and continuous selling by foreign institutional investors (FIIs) affected investor sentiment. Along with this, investors are also closely assessing the quarterly results of various major companies.
Recovery in indices after initial shock
BSE Sensex with 30 shares at the beginning of trading 32.96 points with a decline of 73,000.82 Had reached the level of. At the same time, NSE Nifty also 32.65 points by slipping 22,688.75 Had reached the level of. However, later the Indian market made a strong comeback and recovered all its initial losses. Sensex 161.48 points with an increase of 73,195.26 Started trading on, while Nifty also 36 points by climbing 22,757.95 Reached the level of.
Rupee stronger against US dollar
The Indian currency received support following steps taken by the Reserve Bank of India (RBI) aimed at controlling short-term demand for the dollar and limiting foreign exchange risks associated with speculation. Rupee against US dollar in early trade on Wednesday 44 paise becoming stronger 94.92 Reached the level of.
Which stocks were bullish and bearish?
Among the 30 major Sensex companies, IT and banking majors performed brilliantly:
Major stocks in profit: Tata Consultancy Services (TCS), HCLTech, Infosys, Kotak Mahindra Bank, UltraTech Cement, Tech Mahindra, Maruti and HDFC Bank.
Shares that declined: Sun Pharma, Bajaj Finance, Bajaj Finserv, Larsen & Toubro and Power Grid.
Main reasons for return to the market
The main reason for this recovery in the stock market was the all-round buying in shares of IT sector giants and HDFC Bank. However, the global oil standard Brent crude 0.62 percent with the increase of $106.4 per barrel was trading at, and foreign institutional investors on Tuesday Rs 1,305.13 crore Shares were sold, yet the market registered gains due to domestic institutional support.
Last session (Tuesday) performance
earlier on Tuesday Mumbai There was a huge surge in the Indian stock market. Sensex 1,109.10 points (1.54%) with great speed 73,033.78 which was its best single-day gain in the last four months. Similarly, Nifty also 358.60 points (1.60%) by climbing 22,721.95 Was closed at the level of. There was a strong trend in Asian markets, while American markets had closed with a decline in the last session.
