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After opening with gains on favorable cues from global markets, Indian stock indices closed lower today, following other Asian markets.
Along with this, there was a declining trend in the market for the third consecutive session today. Today, massive selling was seen and especially auto, realty and banking stocks were under pressure, while IT stocks remained bullish. Nifty reached two-month low intraday today. After initially opening 257 points higher, the Sensex remained at the same level till around 10.45 am. However, after this the decline started. After making an intra-day high of 81,781 and low of 80,905, the Sensex closed at 81,006, down 494 points or 0.61 per cent. In this way, a total fluctuation of 876 points was seen in this index throughout the day and Sensex also lost the level of 81,000 intraday. On the other hand, Nifty also opened 56 points higher and after making an intra-day high of 25,029 and low of 24,728, finally closed at 24,749, down 221 points or 0.89 per cent. In this way, a total fluctuation of 301 points was seen in Nifty throughout the day and Nifty closed below 24,800. A situation like bloodshed was witnessed in the wider market. The BSE Mid Cap index ultimately closed at 47,844, down 800 points or 1.65 per cent. Small Cap Index fell 814 points or 1.42 percent and closed at 56,589. However, the BSE SGE IPO index closed 145 points or 0.14 per cent higher at 1,02,621. Of the total 4,064 shares traded on BSE today, 1,272 shares rose, 2,690 shares declined and 102 shares closed flat. BSE cap fell today to Rs. 457.27 lakh crore i.e. 5.44 trillion dollars, which yesterday was Rs. to Rs 463.29 lakh crore. A shortfall of Rs 6.02 lakh crore is being seen. Out of 14 sector indices on Nifty, except Nifty IT index, all 13 indices closed with a decline. Out of these 13 indices, 10 indices declined by more than 1 percent.
Bajaj Auto fell 13 percent, Nifty Auto index fell 3.54 percent. Selling continued in Bajaj Auto even today after Bajaj Auto's second quarter results came in below expectations yesterday. In the second quarter, the company's net profit increased by 9 percent to Rs 1.5 crore. 2,005 crore, which was below market expectations. The company also estimated the growth rate of two-wheeler sales to be only 5 percent, due to which the stock fell. At the end of the day Bajaj Auto shares were worth Rs. 1,523 i.e. 13.11 percent decline to Rs. It closed at 10,093. Earlier this share was at Rs 10 in intraday. A low of 10,071 was also formed. Apart from this, all the constituent stocks of Nifty Auto Index also closed with a fall of 0.34 percent today at 4.58 percent, after which Nifty Auto Index closed with a fall of 3.54 percent.
Nifty IT index rose by 1.19 percent
Today, selling was seen largely in all sectors, but IT sector shares remained untouched. Among the 10 constituent stocks of Nifty IT index, Wipro closed down 0.65 per cent and L&T Technology closed down 1.90 per cent, while all other stocks gained. Mphasis gained 6.17 per cent, Infosys gained 2.84 per cent and Tech Mahindra gained 2.81 per cent. After this, Nifty IT index also closed up by 1.19 percent.
