look news india
Stock Market Today: The Indian stock market has started the week on a negative note. Sensex and Nifty opened lower due to profit booking. Today, heavy selling was seen in banking and metal stocks.
Today the Sensex opened 324.25 points down and closed at 463.96 points. However, by 10.30 am it rose 100 points to reach 77209.90. Nifty also fell to 23350 after opening at 23382.30. At 10.44 am it was trading 37.45 points down at 23463.65. 218 stocks on the BSE hit new yearly highs. 280 stocks hit upper circuit and 172 stocks hit lower circuit.
Cause of dry climate
Market regulator SEBI today conducted searches at all the offices of Quant Mutual Fund on suspicion of front running. Also, the impact of no decision being taken on the expected sectors in the GST Council meeting has also been seen on the market. The week has started with a negative trend amid selling pressure. Rajesh Bhosale, equity technical and derivatives analyst at Angel One, has said that overall profit booking situation can be seen.
Profit booking in realty, metal and banking stocks
Today, investors have seen profit booking in realty, metal and banking stocks. On BSE, the realty index was trading down by 0.81 percent, metal by 0.83 percent, Bankex by 0.45 percent. Indusind Bank is trading down by 2.71 percent, Federal Bank by 0.99 percent, Canara Bank by 0.97 percent. Capital Goods, Power, Consumer Durables, Auto, FMCG index rose. In which the Capital Goods index is trading with the highest gain of 1.22 percent.