Mumbai16 july. Amid geopolitical tension due to the ongoing conflict between Iran and America over control of the Strait of Hormuz, the domestic stock market lost its initial momentum on Thursday and both benchmark indices closed almost flat due to profit-booking in major stocks like HDFC Bank and Reliance Industries.
IT stocks supported the market to some extent
Market analysts believe that fluctuations in crude oil prices and weakness in Asian markets also had an impact on the domestic stock market. However, buying in IT stocks supported the market to some extent.
Sensex 1.44 by a slight lead of points 77,186.87 off on
Bombay Stock Exchange (BSE) benchmark Sensex of 30 shares closed at 77,186.87 points with a marginal gain of 1.44 points. At one time during trading, it had climbed 394.26 points to reach 77,579.69 points, but at the end of the session it lost its entire gain. Among Sensex companies, shares of 15 rose while only 15 showed weakness.
nifty 5.75 by falling points 24,072.75 off on
On the other hand, the National Stock Exchange (NSE) sensitive index Nifty based on 50 shares closed at 24,072.75 points with a decline of 5.75 points or 0.02 percent. The index opened 64 points higher than the previous evening and at one point went up by 108 points to 24,186.50. But after that all the gains were wiped out due to profit booking. Among Nifty companies, 23 shares were in profit while 27 were in decline.
InterGlobe Aviation shares rose the most by 1.84 percent
Among the companies included in the Sensex group, shares of InterGlobe Aviation rose the most by 1.84 percent. HCL Technologies, Bajaj Finance, Maruti, Mahindra & Mahindra and Tech Mahindra were also major gainers. In contrast, shares of Eternal, Bharat Electronics, Bajaj Finserv, HDFC Bank and Axis Bank declined.
FII has 735.83 Net sale of shares worth crores of rupees
According to stock market data, foreign institutional investors (FIIs) made a net sale of shares worth Rs 735.83 crore on Wednesday. Global oil benchmark Brent crude fell 0.39 percent to $84.62 a barrel.
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