Mumbai: The trend of decline in the domestic stock markets continued for the second consecutive day on Friday and the BSE Sensex lost more than 461 points. Amid a weak trend in the global markets, the market came down due to the aggressive stance on the policy rate by the central banks of various countries. The 30-share BSE Sensex closed at 61,337.81, down 461.22 points, or 0.75 per cent. At one point during the trading, it had slipped to 506.5 points.
The National Stock Exchange’s Nifty also closed at 18,269 points, down 145.90 points, or 0.79 percent. Mahindra & Mahindra, Asian Paints, Dr Reddy’s, Tata Consultancy Services, State Bank of India, Wipro, PowerGrid and Titan were major losers in the Sensex pack. On the other hand, the gainers included Hindustan Unilever, HDFC Bank and Nestle India.
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Vinod Nair, head of research, Geojit Financial Services, said, “After the Federal Reserve’s policy rate hike of 0.5 per cent, the European Central Bank and the Bank of England increased interest rates and aggressive stance to control inflation. declined. He said, “The aggressive stance of central banks to bring inflation under control has raised concerns about the health of the global economy.” Attempts to recover losses were seen in the market. However, the domestic equity markets closed with losses due to lack of global support.
In other Asian markets, South Korea’s Cospi, Japan’s Nikkei and China’s Shanghai Composite ended with losses while Hong Kong’s Hangseng gained. Major markets in Europe were in a negative trend in early trade. The US stock market also declined on Thursday. Meanwhile, international oil benchmark Brent crude declined by 2.25 per cent to close at 79.38 per dollar. Foreign institutional investors (FIIs) sold shares worth Rs 710.74 crore on Thursday, according to stock market data. (agency)
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