BSE-NSE Did Not Show A Profit-booking Effect
BSE-NSE did not show a profit-booking effect, only a dozen shares including Nestle were on the green mark.
Profit-booking is dominating the stock markets. After falling on Tuesday, Sensex started weak on Wednesday. The main index of BSE went down after opening at 61,800.07 points.
Till the time of writing the news, it was trading 77 points down at 61639 points. Only a dozen stocks including Nestle India, Asian Paint were on the green mark.
BSE-NSE did not show a profit-booking effect: On the other hand, the condition of Nifty 50 also looked slim. The main index of NSE was trading 44 points down at 18374 points.
Earlier on Tuesday, the trend of bullish momentum continued for seven trading sessions came to an end. Investors reaped profits as the market hit record highs, causing Sensex to lose nearly 50 points.
The BSE 30-share Sensex rose to its all-time high of 62,245.43 points during the day’s trading. However, it finally closed at 61,716.05, losing 49.54 points or 0.08 percent.
Similarly, the Nifty of the National Stock Exchange fell 58.30 points or 0.32 percent to 18,418.75 points. It touched its record level of 18,604.45 during the day’s trading.
Among the Sensex companies, ITC’s stock fell the most by six percent. Shares of Hindustan Unilever, Titan, Tata Steel, UltraTech Cement, and PowerGrid also ended in losses.
On the other hand, Tech Mahindra, L&T, Infosys, Bajaj Finserv, Kotak Bank, and HDFC Bank were among the gainers.
S Ranganathan, Head of Research, LKP Securities, said there was a profit-booking trend in the market. However, the IT segment index remained strong throughout the day despite volatility.
In other Asian markets, Hong Kong’s Hang Seng, China’s Shanghai Composite, South Korea’s Kospi, and Japan’s Nikkei were among the gainers.
European markets were also in gains in afternoon trade. International benchmark Brent crude oil rose 0.66 percent to $84.89 per barrel.
Big increase in the prices of petrol and diesel, today 1 liter of oil will be available at this rate
After two days of relief in petrol and diesel prices, the fire broke out again on Wednesday. Oil companies have directly increased by 35-35 paise per liter.
Due to this, petrol became expensive in Delhi on Wednesday, reaching Rs 106.19 per liter. Diesel has also become costlier by 35 paise to Rs 94.92 per liter.
