After seeing a record-breaking rally, the domestic stock market finally came into the red mark on Thursday, September 9, 2021. Sensex-Nifty opened with a fall amid weak global cues, after which flat trading was seen in early trade. In the opening session, the Sensex fell 46.40 points to open at 58,203.86. At the same time, Nifty fell by 5.85 points to 17,347.65. TCS, Kotak, Bharti Airtel and Bajaj Finserv were up. At the same time, the shares of Axis Bank, Infosys, Reliance, HDFC, Tech Mahindra fell.
There was a decline in seven sectors of the National Stock Exchange. The realty index was down 0.4 per cent. On the other hand, Nifty Pharma, Healthcare, Consumer Durables, Oil & Gas and FMCG were also weak. On the other hand, metal, PSU bank, media and banking indices showed good gains. These indexes gained 0.2-0.6 percent.
Today, Asian markets also declined. MSCI’s index fell 1.04 percent, while Japan’s Nikkei declined 0.38. Australia’s market recorded a decline of 1.01 percent. Cospi fell 0.74 per cent. At the same time, Hong Kong’s stock fell by 1.17.
If we talk about yesterday’s closing, then both Sensex and NSE closed with a slight decline. Markets came down with losses in Infosys, Reliance Industries and TCS, which have strong stakes in the index, amid a weak trend globally. The Sensex closed at 58,250.26, down 29.22 points, or 0.05 percent. During the trading, there was a fluctuation of more than 400 points in it. At the same time, Nifty slipped 8.60 points or 0.05 percent to close at 17,353.50.
Vinod Modi, Head of Strategy, Reliance Securities, said, “The domestic equity markets declined marginally mainly due to profit-booking in IT and auto stocks. Again, a weak global trend also impacted investor sentiment. Investors were watching the shares of textile companies as the government approved a Rs 10,683 crore production based incentive (PLI) scheme for the sector.