Stock Market Indices Decline For Second Day

Today, Equity benchmark indices Sensex and Nifty fell for the second straight day as investors sold FMCG, IT, and tech shares amid a weak start in European markets.

Index heavyweights are under selling pressure. Reliance Industries has also contributed to the stock market’s downtrend.

The 30-share BSE Sensex dropped 223.01 points or 0.35 percent to 62,625.63. It slid 253.9 points or 0.40 percent during the day to 62,594.74.

The NSE Nifty plummeted 71.15 points or 0.38 percent to 18,563.40.

Tata Steel fell roughly 2 percent, followed by State Bank of India, Hindustan Unilever, HCL Technologies, Infosys, ITC, Asian Paints, Mahindra & Mahindra, Tech Mahindra, Tata Consultancy Services, and Reliance Industries.

IndusInd Bank, Axis Bank, Larsen & Toubro, Power Grid, UltraTech Cement, and Tata Motors, on the other hand, benefited.

Seoul, Tokyo, Shanghai, and Hong Kong all finished in the green in Asian markets.

European equity markets Indices were trading in the red. Thursday’s market close in the United States was favorable.

Brent crude rose 0.38 percent to USD 76.25 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) bought securities worth Rs 212.40 crore on Thursday.

On Thursday, the BSE benchmark lost 294.32 points or 0.47 percent to 62,848.64. The NSE Nifty dropped 91.85 points or 0.49 percent to 18,634.55.

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