The stock market closed on the third trading day of the week, ie Thursday, amid negative global cues. The Bombay Stock Exchange's flagship index Sensex lost 1.31 percent to end at 535.09 points, down 43599.96. At the same time, the National Stock Exchange's Nifty lost 1.39 percent (166.55 points) to close at 12771.70. On 16 November 2020, the domestic stock market was closed on the occasion of Diwali Balipratipada.
Today, there was pressure in banking stocks. Apart from this, the market also declined due to increasing cases of coronavirus. Foreign institutional investors remained net buyers in the capital market and according to provisional data on the stock market, they bought shares worth Rs 3,071.93 crore on a gross basis on Wednesday.
The index has recovered the entire loss in the year 2020. It closed at 41,306.02 on January 1, 2020. However, according to analysts, further market volatility will continue. Hence investors should be cautious.
The decline in worldwide markets
On Wednesday, markets around the world saw a decline. The US Dow Jones was down 344.93 points at 29,438.40, down 1.16 percent. The Nasdaq index was down 82.78 points at 11,894.70, down 0.69 percent. The S&P 500 index was down 41.74 points at 3,567.79. In the Asian markets today, Japan's Nikkei index was trading down 179 points at 25,548. Hong Kong's Hang Seng Index was also down by 182 points at 26,362.
Such was the situation of veteran shares
Talking about the big stocks, today the shares of Power Grid, ITC, NTPC, Coal India, and Tata Steel closed on the green mark. SBI, Axis Bank, ICICI Bank, Tata Motors, and JSW Steel closed at the red mark.
TCS shareholders approve share repurchase plan
The country's largest information technology services company Tata Consultancy Services (TCS) on Wednesday said that its shareholders have approved share repurchase plans of up to Rs 16,000 crore. Last month, the board of directors of TCS approved the repurchase of equity shares of up to 5,33,33,333 of the company. This repurchase will be up to Rs 16,000 crore.
Sectoral index tracking
If we look at the sectoral index, today, apart from FMCG and media, all sectors closed on the red mark. These include pharma, IT, PSU banks, banks, private banks, financial services, realty, metals, and autos.
The market was open on the red mark
Today the stock market opened on the red mark. The Sensex was down 284.74 points (0.64 percent) to open at the level of 43895.31. The Nifty started with a decline of 76.20 points (0.59 percent) at 12862.10.
The market had gained momentum on the previous trading day
The stock market closed higher on the previous trading day. The Sensex gained 0.52 percent to close at 221.34 points at 44180.05 and the Nifty gained 0.50 percent (64.05 points) to close at 12938.25. This is the highest level of the market.