The stock market decline continued in this week's final trading session as well. The market was closed on December 25. The day before that, both benchmark indices had lost points. Friday maintained the same situation.
On Friday, the Sensex fell 367 points or 0.42 percent. Nifty50 declined 100 points or 0.38 percent. Due to this fall, the Sensex stands at 85,041 points, and the Nifty50 stands at 26,042 points.
This decline reduced the combined market capitalisation of Bombay Stock Exchange-listed companies by 1 lakh crore rupees. Although the market was down in the last two trading sessions, combining all trading sessions of this week, the Sensex rose 112 points or 0.13 percent and Nifty50 increased 0.30 percent.
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Along with the two benchmark indices, most sectoral indices are down on both stock exchanges of the country. On the Bombay Stock Exchange, mid-cap and small-cap indices declined 0.18 percent and 0.34 percent respectively. On the other hand, several important sectoral indices on Nifty like IT, auto, bank, pharma, financial services, realty, India Defence, energy declined.
Among these, the Nifty IT sectoral index fell the most. Despite the declining atmosphere in the stock market, the Nifty Metal sectoral index rose 0.59 percent. Experts say this increase in the metal index is due to the impact of rising prices of various metals.
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Market experts have blamed profit booking for Friday's stock market decline. They believe that investors wanted to book profits from investments at the end of the year. This increased selling pressure brought down the benchmark indices. Experts say that as time passed after the market opened, the extent of decline increased.
Vinod Nair, Research Head of Geojit Investment, said in this regard, "Santa Claus could not inspire the market. Due to a lack of fresh catalysts, investors maintained a cautious attitude. The week's final trading session was down due to their profit booking."
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