The country's stock market witnessed a decline for three consecutive trading sessions this week. Like Monday and Tuesday, both benchmark indices were down from Wednesday morning. Despite fluctuations throughout the day, there was no change in this situation by market close.
In Wednesday's trading session, the Sensex fell by 102 points or 0.12 percent. As a result, this index of the Bombay Stock Exchange stands at 84,961 points. Nifty50 declined by 0.14 percent or 38 points on Wednesday. Following this fall, the National Stock Exchange's benchmark index stands at 26,140 points. However, despite the decline in Nifty50 and Sensex points, BSE's small cap and mid cap indices grew by 0.12 percent and 0.47 percent respectively.
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Sectoral indices show mixed trends
Amid the decline of benchmark indices, sectoral indices showed mixed performance on both exchanges. Sectoral indices like Nifty IT (1.87%), Capital Market (1.18%), Pharma (0.69%), India Defence (0.65%) gained points significantly. But sectoral indices like Bank, FMCG, Energy, Financial Services, Realty, Oil and Gas, Auto declined in points.
Among companies listed on the Nifty50 index, the highest growth was seen in Titan Company (3.94 percent), HCL Technologies (2.36 percent) and Wipro (1.79 percent). The biggest point declines were in Cipla (-4.28 percent), Maruti Suzuki India (-2.81 percent) and Tata Motors (-1.60 percent).
Market experts attribute the continuous decline of the market in the new year to the lack of fresh triggers. Additionally, the publication of financial reports for the third quarter of the current financial year has just begun. Market experts believe this is creating a cautious sentiment among investors.
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Analysts believe that uncertainty over trade agreements with America and Donald Trump's recent threats are also having a negative impact on the market. Along with this, the tendency of foreign investors to withdraw investments continues in the new year as well. Dalal Street cannot avoid this impact.
(Ei Samay Online does not provide investment advice anywhere. Investment in the stock market or any field involves risk. Proper study and expert advice is desirable beforehand. This news is published for educational purposes and awareness.)
