FILE PHOTO: A man looks across the street at a screen displaying the Sensex on the façade of the Bombay Stock Exchange (BSE) building in Mumbai, India, June 29, 2015. Reuters/Danish Siddiqui
Sensex Today: Domestic markets opened with a fall in Wednesday’s trade amid weak foreign inflows and rising oil prices.
Sensex Today: Domestic markets opened with losses on Wednesday amid weak foreign inflows and rising oil prices. Major index Nifty 50 fell over 30 points to settle below the 17,900-mark, while the S&P BSE Sensex fell over 100 points to trade below the 60,000-mark.
Meanwhile, the broader markets were mixed smelly Smallcap 100 Index outperformed Nifty Midcap 100 Index.
Sectorally, Nifty IT, Nifty Media and Nifty Metal indices got off to a decent start as they rose up to 0.5 per cent. However, the Nifty FMCG and Nifty Realty indices declined the most, up to 0.2 per cent each.
Among individual stocks, Adani Wilmar shares gained over 2 per cent after the company witnessed strong volume growth in the Q3 business update.
Besides, Uttam Sugar Mills shares gained over 5 per cent after the company increased its distillery capacity for ethanol at its Barkartpur plant.
Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said: “The biggest pressure on the market in the near term is the sustained selling by FIIs for thirteen consecutive sessions, which has led to cumulative cash market selling of Rs 16587 crore. The high in . Evaluation India And attractive valuations in markets like China are prompting FIIs to sell in India and invest in cheaper markets. Even though this is a short-term challenge, it can also turn out to be an opportunity for long-term investors. Last year also, FIIs sold heavily in the initial months and DIIs/Retail, who absorbed all FII sales, made huge profits when the market corrected. Bank stocks are down due to FII selling, but the segment is doing well and Q3 results will be good. The market will respond to the results.”
global signal
US stocks closed solidly higher on Tuesday, with the Nasdaq gaining 1% on a relief that Federal Reserve Chairman Jerome Powell refrained in his speech from commenting on rate policy.
Asian shares edged higher on Wednesday while the dollar held steady as investors prepared for US inflation data that will affect the Federal Reserve’s interest rate policy. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.28% higher, while Japan’s Nikkei rose 1%. Australia’s S&P/ASX 200 index rose 0.80%.
Oil prices fell on Wednesday, erasing the previous session’s gains, after industry data showed an unexpected rise in crude and fuel inventories in the United States, the world’s biggest oil user, which hit fuel demand. expressed concern about. US West Texas Intermediate (WTI) crude futures fell 59 cents, or 0.8%, to $74.53 a barrel by 0134 GMT, while Brent crude futures were down 62 cents, or 0.8%, at $79.48 a barrel.
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