Friday , June 14 2024

Stock Market Closing: Sensex up 984 points, Nifty lost 22000 level

Stock Market Closing: After registering a difference of 2094.5 points in three consecutive trading sessions, Sensex and Nifty closed at 72488.99 points with a gain of 454.69 points today. Nifty also fell 152.05 points and closed at 21995.85.

After opening on a positive note, Sensex rose 450.40 points to hit an intraday high of 73135.43. From where as the selling pressure increased, 984 points were broken from the rising top. Nifty has broken the psychological level of 22 thousand. Experts have said that there is a danger of recession in the next one or two sessions if the stock closes within 22 thousand.

Rs 9 lakh crore lost in four trading sessions

Banking, FMCG, Energy, Consumer Durables indices fell by more than 1 percent today due to increased selling pressure. In the last four consecutive trading sessions, investors' capital has declined by more than Rs 9 lakh crore. On the other hand, the telecom index closed more than 1 percent higher. In the Sensex pack, all 26 stocks except Bharti Airtel, PowerGrid, Infosys and Larsen & Toubro closed in the red zone.

Challenges of the Iran-Israel war remain at the global level. On the other hand, the dollar strengthened after the Federal Reserve announced a delay in rate cut. Due to which selling by foreign investors has been seen.

While Sensex and Nifty closed lower, most European stock markets including FTSE were trading in a positive direction. Brent crude fell 1 percent to $86 a barrel on expectations of no sanctions against Iranian oil.

Siddharth Khemka of Motilal Oswal said, in the absence of any major positive factor, the stock market is likely to remain volatile. Investors should focus on adopting a stock-specific approach during the results season. Globally, investors will keep an eye on domestic sales figures in the US.