Mumbai. Local stock markets closed with losses after selling in Reliance Industries and HDFC Bank shares and retail inflation reaching the highest level in nine months in September. Sensex lost 153 points and Nifty lost 70 points. BSE’s benchmark index Sensex based on 30 shares lost its initial gains and closed at 81,820.12, falling 152.93 points or 0.19 percent. During trading it fell 337.48 points to a low of 81,635.57.
National Stock Exchange (NSE) index Nifty also fell by 70.60 points or 0.28 percent and closed at 25,057.35.
Among the companies included in the Sensex group, shares of Bajaj Finance, Reliance Industries, Tata Steel, JSW Steel, Tech Mahindra, Tata Motors, Kotak Mahindra Bank and Maruti Suzuki declined.
The net profit of Reliance Industries Limited, the country’s most valuable company in terms of market capitalization, has fallen by five percent in the July-September quarter. This result had an impact on the performance of the company’s shares and selling was seen in it. On the other hand, shares of ICICI Bank, Bharti Airtel, Asian Paints, Adani Ports, UltraTech Cement and HCL Technologies closed with gains.
Information technology (IT) company HCL Tech’s consolidated net profit in the July-September quarter has increased by 10.51 percent to Rs 4,235 crore. Due to this, there was a rising trend in the shares of the company. Vinod Nair, Head of Research, Geojit Financial Services, said, “Domestic markets declined due to mixed global trends and light profit-booking. Falling crude oil prices is beneficial for the domestic market but it also reflects weak global demand. Apart from this, due to increase in retail inflation, reduction in interest rates may also be delayed. According to government data, rising vegetable prices pushed retail inflation to a nine-month high of 5.49 percent in September.
The BSE Smallcap index registered a rise of 1.05 percent while the Midcap index registered a gain of 0.25 percent.
Among the sector wise indices, the metal segment witnessed the biggest decline of 1.56 percent while the vehicle segment witnessed a decline of 0.67 percent and the energy segment witnessed a decline of 0.39 percent. Whereas the realty segment made a big jump of 2.07 percent. Global oil benchmark Brent crude fell 4.71 percent to $ 73.81 per barrel.
In other markets of Asia, South Korea’s Kospi and Japan’s Nikkei remained in the positive zone while China’s Shanghai Composite and Hong Kong’s Hang Seng closed with a decline. European markets were trading with mixed sentiment. American markets closed on the rise on Monday.
According to stock market data, foreign institutional investors (FIIs) made a net sale of shares worth Rs 3,731.59 crore on Monday while domestic institutional investors (DIIs) bought shares worth Rs 2,278.09 crore. On Monday, BSE Sensex rose 591.69 points to 81,973.05 and NSE Nifty rose 163.70 points to 25,127.95.