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| Photo Credit: Reuters
Market benchmark indices declined in early commerce on May 17, extending their earlier day’s fall, dragged down by IT counters and a weak pattern within the U.S. equities.
The 30-share BSE Sensex fell 100.87 factors to 61,831.60 after a flat begin to the commerce. The NSE Nifty dipped 29.1 factors to 18,257.40.
Among the Sensex corporations, Wipro, Infosys, HCL Technologies, Tata Consultancy Services, Tech Mahindra, Hindustan Unilever, Bajaj Finserv, and Bajaj Finance have been the foremost laggards.
Bharti Airtel, IndusInd Bank, Larsen & Toubro, ITC, ExtremelyTech Cement, and State Bank of India have been among the many gainers.
In Asia, Seoul, and Tokyo markets have been buying and selling within the inexperienced, whereas Shanghai and Hong Kong quoted decrease. The U.S. market ended decrease on May 16.
Foreign Institutional Investors (FIIs) have been patrons on Tuesday as they purchased equities price ₹1,406.86 crore, based on alternate information.
“As a batsman approaches a century, he might get stuck for a while in the ‘nervous nineties’. It appears that the market is in a similar state while approaching a new all-time high. Even though the conditions are favourable for a new record, there are near-term issues such as the U.S. debt ceiling impasse which can weigh over global markets in the near-term,” V. Ok. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stated.
Meanwhile, international oil benchmark Brent crude climbed 0.16% to $75.03 per barrel. On Tuesday, the 30-share BSE benchmark had declined 413.24 factors or 0.66% to settle at 61,932.47. The Nifty went decrease by 112.35 factors or 0.61% to finish at 18,286.50.
“Caution is likely to prevail further and one may see extended profit-booking in next few sessions, as investors would focus on global mood,” Prashanth Tapse, senior vice-president (Research) at Mehta Equities Limited, stated.
