Mumbai. The decline that had been going on for the last four trading sessions in the local stock markets came to an end on Wednesday and both the benchmark indices remained in profit. BSE Sensex rose 50 points while NSE Nifty rose 33 points. However, higher crude oil prices and global uncertainty curbed the rally. The 30-share BSE Sensex closed at 74,608.98, up 49.74 points or 0.07 percent.
During trading, the Sensex reached a high of 75,191.57 points and reached a low of 74,134.48 points. Similarly, NSE Nifty closed at 23,412.60, up 33.05 points or 0.14 percent. Among the Sensex stocks, Asian Paints, Tata Steel, Adani Ports, Bharat Electronics, Bharti Airtel and Larsen & Toubro were the major gainers.
On the other hand, loss-making stocks include Mahindra & Mahindra, Infosys, Tata Consultancy Services, Sun Pharma and Tech Mahindra. Global oil benchmark Brent crude fell 0.5 percent to $107.27 per barrel. According to stock market data, foreign institutional investors (FIIs) sold shares worth Rs 1,959.39 crore on Tuesday.
After heavy selling in the last two days, relative stability was observed in the domestic stock markets today and both the benchmark indices closed with slight gains. Hariprasad K, research analyst and founder of Livelong Wealth. Said, “The market remained in a limited range. This signals a temporary pause in panic selling. However, the market stance remains cautious amid global and domestic macroeconomic concerns.
According to government data released on Tuesday, retail inflation rose marginally to 3.48 percent in April. Among other markets in Asia, South Korea’s Kospi, Japan’s Nikkei, China’s SSE Composite and Hong Kong’s Hang Seng were among the gainers. A mixed trend was seen in the major markets of Europe in afternoon trading. There was mostly a decline in the US market on Tuesday. The Sensex fell 1,456.04 points on Tuesday and closed at 74,559.24. Whereas Nifty was down by 436.30 points at 23,379.55 points.
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