The market closed down due to profit booking in heavyweight shares and US political instability
new Delhi. Today the stock market closed at the red mark after 10 days. According to experts, the stock market has fallen due to political instability in the US and heavyweight stocks like Reliance, TCS, Infosys, ITC and HUL. Shares of PGCI, GAIL India, Shree Cements closed sharply. In addition, the stock market appeared under pressure in the capital of Hebei province of China, due to a ban caused by the corona virus and by Japan for more than a month’s emergency.
Market closed at a record high
Today, the stock market slipped from record highs after 10 days. The Bombay Stock Exchange’s flagship index Sensex lost 263.72 points to close at 48174.06 points. On the other hand, the National Stock Exchange’s major index Nifty 50 fell by 53.25 points to close at 14146.25 points. The BSE small cap closed down marginally by 26.57 points. On the other hand, the BSE Mid-Cap was up by 72.90 points. Foreign investors’ CNX Midcap closed 117.50 points higher.
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Big drop in IT sector
First of all IT sector, BSE IT closed down by 254.51 points. BSE Tech saw a decline of 73 points. BSE FMCG 159.15 and BSE Healthcare closed down 89.83 points. The auto sector closed down by 72.88 points. On the other hand, bank exchanges closed at 122.11 and Bank Nifty rose by 75.60 points. Consumer durables recorded the highest gain of 355.62 points. Capital Goods 102.13, BSE Metal 258.18, Oil and Gas 57.72 and BSE PSU gained 59.85 points.
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Rising and falling shares
First of all, Power Grid Corporation of India has closed with a gain of 4.34 per cent. Shree Cements 3.89 per cent, GAIL India 3.63 per cent, Hindalco Industries 3.50 per cent and Grasim Industries 2.42 per cent. Talking about the declining shares, ITC shares fell by 2.86 per cent, Reliance Industries 2.64 per cent, Bajaj Finance 1.73 per cent, Axis Bank 1.54 per cent and Hindustan Unilever shares fell by 1.36 per cent.
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