In Central Asia deals elsewhere were red in Asia, Shanghai, Hong Kong and Tokyo, while Seoul was trading marginally higher.
The equity benchmark Sensex climbed over 400 points in early trade on Wednesday and the index tumbled over losses at Major HDFC Twins, Infosys and ICICI Bank amid a negative trend in the global markets.
The 30-share BSE index was down 440.84 points, or 0.88%, to trade at 49,695.74, and the NSE Nifty fell 116.05 points, or 0.78%, to 14,729.05 points.
HDFC added over 2% to the Sensex pack, followed by Tech Mahindra, PowerGrid, ICICI Bank, Infosys and Kotak Bank.
On the other hand, Bajaj Finserv, Reliance Industries, NTPC, Sun Pharma, Axis Bank and Maruti were among the beneficiaries.
The Sensex rose 1,128.08 points or 2.30% to close at 50,136.58 points in the previous session and the Nifty closed nearly two-week high at 14,845.10.
Foreign Institutional Investors (FIIs) were net buyers in the capital market as they bought shares worth ₹ 769.47 crore as per exchange data on Tuesday.
The domestic equations are not looking good at the moment. Binod Modi, Head – Strategy, Reliance Securities, said the recent nightly announcements made by various state governments and the sign of lockdown by Maharashtra officials did not augur well for equities.
He further said that the strong dollar index, which had already risen 1.5% last week and crossed the 93 level so far this week, may raise investor concern in emerging markets including India.
Mr Modi said that US equity plummeted due to rising bond yields and concerns over high inflation, again affecting investor sentiment.
In Central Asia deals elsewhere were red in Asia, Shanghai, Hong Kong and Tokyo, while Seoul was trading marginally higher.
Meanwhile, global oil benchmark Brent crude was trading up 0.45% at $ 64.46 a barrel.
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