Stock Market Today: After flat closing on Tuesday, domestic stock market opened flat on Wednesday morning even amid mixed global cues. The market has registered a decline for three consecutive days. The Asian markets have also been seen sluggishly amid waiting for the decision of the policy meeting of the Federal Reserve Bank of America.
The Sensex opened 58.75 points, or 0.12%, down at the level of 50305.21 at 09:16 in the morning, while the Nifty opened with a loss of 24.90 points or 0.17% at 14885.60. About 694 shares were up at the opening. By 9:30, the Sensex had gained 75.35 points, or 0.16 percent.
Asian markets are also open with lethargy. Selling has been seen in US stocks due to the Fed meeting. US markets also closed on a flat note. At the same time, pre-opening in the Australian market declined by 0.34 per cent. Japan’s Nikkei 225 Future rose 0.20 per cent and Hong Kong’s Hong Seng Index Future rose 0.34 per cent.
Let us know that on Tuesday, the BSE Sensex lost 31.12 points or 0.06 per cent to close at 50,363.96, while the NSE Nifty slipped 19.05 points or 0.13 per cent to 14,910.45. Traders said that due to the weakness of the rupee and selling by foreign investors, the pressure on the market had increased.
Binod Modi, strategy head of Reliance Securities, said that the domestic stock markets had gained in the beginning but the market closed down at the end of trading, despite a positive signal from the global stock markets. He said that financial stocks once again put pressure on the market. The IT stock caught the attention of investors due to the expectation of good earnings.
He said that due to increase in the cases of Kovid-19 in different parts of the country, market concern has also increased. Apart from this, investors are also cautious about the volatile bond market and inflation.
(With input from language)