Stock Market Updates: Trading started in the stock market on Friday in a positive trend, but the market could not maintain this growth and soon went into decline. The index fell more than 150 points due to the fall in the shares of HDFC, HDFC Bank, ICICI Bank and TCS, the major stocks included in the index. Flat trading is seen in early trade.
At 10.51 in the morning, the Sensex was trading at a level of 48,717.50, gaining 26.70 points to 0.055%, while the Nifty was trading 10.90 points, or 0.074%, at 14,685.60 during this period.
The 30-share Sensex of the Bombay Stock Exchange (BSE) fell 158.99 points, or 0.33 percent, to 48,531.81 points and the National Stock Exchange (NSE) Nifty index fell 59.50 points, or 0.40 percent, to 14,637 points in early trading.
Among the Sensex stocks, Mahindra & Mahindra was the biggest loser, while ONGC, Bajaj Auto, Maruti, TCS, HDFC, HDFC Bank and Bajaj Finance declined. In contrast, Asian Paints, Dr. Reddy’s Lab, TCS, Sun Ferma and Hindustan Unilever were the leading gainers. Earlier in Wednesday trading, the Sensex fell 471.01 points, or 0.96 percent, to 48,690.80 points and the NSE Nifty fell 154.25 points, or 1.04 percent, to close at 14,696.50 points.
According to preliminary data from the stock markets, foreign institutional investors sold net worth of Rs 1,260.59 crore in the market during this period. The domestic stock market remained closed on Thursday on the occasion of Eid-ul-Fitr.
The Kovid-19 figures in the domestic markets still remain high. Lockdown has been pushed forward in many states. It is estimated that due to this situation, the company results for the first quarter of the current financial year may remain below. If we talk about other markets of Asia, then the markets of Shanghai, Hong Kong, Tokyo and Seoul had a positive trend till the end of the month. Meanwhile, in the international market, the price of Brent crude was reduced by 0.42 per cent to USD 66.77 per barrel.
(This news has not been edited by the NDTV team. It has been published directly from the Syndicate feed.)