Representational picture solely.
| Photo Credit: PTI
Benchmark indices declined in early trade on February 17 dragged down by IT counters amid an general weak global market traits. The BSE Sensex declined 397.67 points to 60,921.84 points. The NSE Nifty fell 108.4 points to 17,927.45 points.
Nestle, IndusInd Bank, Tech Mahindra, Wipro, HCL Technologies, Infosys, Tata Consultancy Services, HDFC and HDFC Bank have been among the many laggards in the Sensex pack.
ExtremelyTech Cement, Larsen & Toubro, Tata Steel, Asian Paints and Reliance have been among the many gainers. In Asian markets, Japan, South Korea, Hong Kong and China have been buying and selling decrease. The U.S. markets had ended sharply decrease on February 16.
“There is a clear pattern to the trends from the mother market, U.S. Whenever positive news like declining inflation comes, equity markets rise on hopes of a Fed pause and a possible rate cut by end 2023.”
“Conversely, whenever data indicates a robust U.S. economy, tight labour market and very slow disinflation, equity markets fall expecting the Fed to remain hawkish. This see-saw game is likely to continue till clarity emerges on where the economy is headed,” mentioned V. Ok. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The BSE benchmark had eked out marginal good points of 44.42 points or 0.07% to settle at 61,319.51 points on Thursday. The Nifty superior 20 points or 0.11% to finish at 18,035.85 points. International oil benchmark Brent crude dipped 0.78% to $84.48 per barrel.
Foreign Portfolio Investors (FPIs) have been web patrons as they purchased shares value ₹1,570.62 crore on Thursday, based on change knowledge.
