Investors around the world are keeping a close eye on the stock market as equity benchmark indices Sensex and Nifty declined for the fifth consecutive session. The markets are facing challenges due to concerns that the US Federal Reserve might raise interest rates in a bid to control inflation. This has been compounded by foreign fund outflows and weak trends in Asian markets.
In Mumbai, the BSE Sensex declined 139.18 points or 0.23%, settling at 59,605.80 amid a highly volatile trade on Thursday. During the day, it hit a high of 59,960.04 and a low of 59,406.31. Similarly, the NSE Nifty also slipped 43.05 points or 0.25%, ending at 17,511.25.
A few major laggards in the Sensex pack were Asian Paints, Larsen & Toubro, Titan, IndusInd Bank, Bharti Airtel, Power Grid, Bajaj Finserv, Infosys, HDFC Bank, and HDFC. Meanwhile, Axis Bank, Tata Motors, ITC, State Bank of India, Tata Steel, and Sun Pharma were among the gainers.
Asian markets, including China and Hong Kong, settled lower, while South Korea ended higher. Japanese markets remained closed for a holiday. In contrast, European equities were trading mostly in the green during afternoon trade. The US markets ended on a mixed note on Wednesday.
In addition, foreign portfolio investors offloaded shares worth ₹579.82 crore on Wednesday, according to exchange data.
On the other hand, the rupee appreciated by 15 paise to close at 82.73 (provisional) against the US dollar on Thursday. International oil benchmark Brent crude climbed 0.32% to USD 80.86 per barrel.
Despite the current challenges, the stock market remains a popular investment option for many. Keep an eye on market trends and make informed investment decisions.
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