May 15th 2024.
The stock market in Mumbai experienced a decline on Wednesday, after three days of consecutive gains. This drop was mainly due to the selling pressure on HDFC Bank and the continuous outflow of foreign funds. The 30-share BSE Sensex, which had been on an upward trend for the past three days, closed at 72,987.03, down by 117.58 points or 0.16 percent. Throughout the day, it had also lost 281.95 points or 0.38 percent, reaching a low of 72,822.66.
Similarly, the NSE Nifty also saw a dip of 17.30 points or 0.08 percent, closing at 22,200.55. Among the major players in the Sensex, Tata Motors, Asian Paints, HDFC Bank, JSW Steel, Hindustan Unilever, Nestle, and Titan were the biggest losers. On the other hand, Bharti Airtel, Power Grid, NTPC, Mahindra & Mahindra, Larsen & Toubro, and HCL Technologies were among the top gainers.
While the stock market in Tokyo closed with a positive note, Shanghai ended the day in the red. Markets in South Korea and Hong Kong remained closed for a holiday. In Europe, most markets were trading higher, and Wall Street had a positive ending on Tuesday. The global oil benchmark Brent crude also saw a slight increase of 0.21 percent, reaching $82.55 per barrel.
According to exchange data, Foreign Institutional Investors (FIIs) sold equities worth Rs 4,065.52 crore on Tuesday. In comparison, on Tuesday, the BSE benchmark had gained 328.48 points or 0.45 percent, closing at 73,104.61, while the NSE Nifty had risen by 113.80 points or 0.51 percent, closing at 22,217.85.
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