Benchmark fairness indices started the trade on a muted be aware on August 17 and fell additional consistent with weak pattern in global markets.
| Photo Credit: PTI
Benchmark fairness indices started the trade on a muted be aware on August 17 and fell additional consistent with weak pattern in global markets.
The 30-share BSE Sensex declined 115.41 factors to 65,424.01. The NSE Nifty slipped 41.35 factors to 19,423.65.
From the Sensex pack, ITC, ICICI Bank, Power Grid, ExtremelyTech Cement, Nestle, Larsen & Toubro, Tech Mahindra and Tata Motors have been the key laggards.
Titan, Tata Steel, Axis Bank, Maruti, State Bank of India and NTPC have been among the many gainers.
In Asian markets, Seoul, Tokyo and Hong Kong have been buying and selling lower whereas Shanghai quoted within the inexperienced.
The U.S. markets ended within the destructive territory on August 16.
“Global cues for markets continue to be weak. There are two negatives weighing on global stock markets now: One, the U.S. Fed minutes indicate that one more rate hike may be needed in this rate-hiking cycle to tame inflation.
“Two, Chinese macro knowledge point out that the financial system is slowing greater than feared earlier, and this may affect global financial progress. In this situation, the Indian market is unlikely to interrupt out to newer highs on a sustained foundation and decouple from the remainder of the world. However, a pointy correction seems unlikely,” mentioned V.Ok. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Global oil benchmark Brent crude climbed 0.12% to $83.55 a barrel.
Foreign Institutional Investors (FIIs) turned consumers on August 16 as they purchased equities price ₹722.76 crore, in keeping with trade knowledge.
The BSE benchmark had climbed 137.50 factors or 0.21% to settle at 65,539.42 on August 16. The Nifty gained 30.45 factors or 0.16% to finish at 19,465.
