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Share Market: Sensex-Nifty picks up; OMC shares sell out due to increase in fuel prices

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Positive opening in the stock market.

New Delhi:

Share Market Updates: On Wednesday, domestic stock markets opened with positive notes. In the last trading session, the benchmark index had recorded a decline of 1 percent, but today the markets are open in green mark. In the opening, the BSE Sensex rose by 253.56 points, or 0.52 per cent, to a level of 48,503.21. At the same time, the NSE Nifty rose by 71.35 points, or 0.51 per cent, to 14,573.50.

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Today, the BSE Midcap index has gained 0.7 percent with the opening and the BSE Smallcap index has gained 0.9 percent. Today, due to increase in domestic prices of retail fuel for the second consecutive day, selling is being seen in oil marketing companies. ONGC, BPCL and IOC have gained 1-3 per cent.

Explain that today the central bank is addressing the media amid the second wave of Reserve Bank of India Governor Shaktikanta Das Kovid, that too the market is eyeing it.

Today, Asian markets have seen a decline for the fourth consecutive day. There was a sell-off in large-cap tech stocks on Wall Street, the effect of which is visible.

In yesterday’s trading session, the stock markets were unable to maintain the initial growth due to selling in the major stocks and finally closed in the fall. According to traders, the serious situation of Kovid-19 and continued selling of foreign funds have affected the market.

S Ranganathan, head of research, LKP Securities, said, “The stock market came down due to poor quarterly results of many mid-sized companies. There was a concern in the market due to the lockdown at the state level and profit booking was done in the stocks of metal and pharmaceutical companies in the afternoon trade. Vinod Modi, strategic head of Reliance Securities, said that there is a concern about the case of Kovid-19 transition in the market. This has affected the perception of investors.

(With input from language)

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