Sensex falls 334 points to close at 51,942; Nifty ends at 15,635

Business
Sensex falls 334 points to close at 51,942;  Nifty ends at 15,635


NEW DELHI: Stock indices plummeted Wednesday as benchmark BSE Sensex falling more than 300 points dragged by real estate, banking and automotive stocks.
The 30-share BSE Index fell 334 points or 0.64 percent to close at 51,942; while the broader NSE Nifty it closed 105 points or 0.67 percent less at 15.635.
Reliance, Bharti Airtel, L&T, Bajaj Finserv, IndusInd Bank and Bajaj Finance were the main losers in the sensex package falling as much as 1.61 percent.
PowerGrid, NTPC, Titan and Asian Paints were the main winners, rising as much as 3.85%,
On the NSE platform, the Nifty Media, Realty, PSU Bank and Auto sub-indices fell as much as 2.1%.
“National actions appear to be off as of now. An improved outlook for economic recovery driven by a sharp drop in the number of daily cases, the acceleration of the vaccination process, and the gradual removal of state-imposed restrictions has already led to markets to experience new highs, “Binod Modi Head-Reliance Securities Strategy told the PTI news agency.
Going forward, with state-level lockdown restrictions easing, the government’s increased allocation to capital expenditures for FY22E should be helpful in boosting economic growth in the coming quarters, he said.
Globally, stocks held near record highs as investors bet the US Federal Reserve is a bit far from curtailing its economic stimulus. The market’s focus was also on a European Central Bank policy meeting and US inflation data to be released later this week.
Meanwhile, foreign institutional investors (FII) were net buyers in the capital market, as they bought shares worth 1,422.71 crore on Tuesday, according to interim exchange data.
(With inputs from agencies)

.



Source link