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PL Capital advisor head Vikram Kasat said that amidst increasing tension with Pakistan, the Indian stock markets weakened on Thursday and closed.
Mumbai: The impact of the stressful situation between India and Pakistan is also visible on the stock market. Due to increasing tension between India and Pakistan, there was a ups and downs on Thursday due to selling in banking, FMCG and auto shares. The benchmark Sensex declined by about 412 points. The 30 -share Sensex fell 411.97 points or 0.51 percent to close at 80,334.81, while its 23 shares were in loss. In the last business of the morning, the index reached a high of 80,927.99. However, in the afternoon session, the speed of the barometer was reduced due to selling in FMCG, auto and select banking shares. In the pre-close session, it fell 759.17 points or 0.94 percent to a low of 79,987.61.
The NSE Nifty closed at 24,273.80, declining 140.60 points or 0.58 percent. In day business, it fell 264.2 points or 1 percent to 24,150.20. On the other hand, officials said on Thursday that the Indian armed forces failed the Pakistani army’s efforts to attack several military bases in northern and western India last night and destroyed a Pakistani air defense system in Lahore.
Also read: India- Baba Venga’s predictions on Pakistan War, destruction will happen if truth is true; You will also be shocked
1.90 falls in BSE index and 1.05 percent in smallcap index
The Sensex companies lagged behind Eternal, Mahindra & Mahindra, Maruti, Bajaj Finance, Tata Steel, Bharti Airtel, Bajaj Finserv, Asian Paints, Power Grid and State Bank of India. Kotak Mahindra Bank, Axis Bank, Titan, HCL Tech, Tata Motors, Infosys and Tata Consultancy Services benefited. The BSE Midcap index fell by 1.90 per cent and the smallcap index by 1.05 per cent. Vinod Nair, Head of Research Investments Limited, said that the FOMC policy meeting received very little assurance from the FOMC policy meeting, as Fed expressed concern that the aggressive American tariffs could promote inflation and increase unemployment. However, the global market remains stable and positive, excited by the hopes of adjacent American trade agreement with Britain and early signs of trade talks with China.
Indian stock market was weak amid growing tension with Pakistan, benchmark reached red mark
PL Capital advisor head Vikram Kasat said that the Indian stock markets weakened on Thursday amidst increasing tension with Pakistan. The benchmarks reached the red mark after the unstable session. In regional indices, realty was 2.60 percent in oil and gas (1.98 percent), auto (1.92 percent), electricity (1.86 percent), utilities (1.85 percent), commodities (1.67 percent), consumer discretionary (1.58 percent) and services (1.57 percent). IT and BSE Focused IT. 2,548 shares declined on BSE, while 1,349 shares rose and 135 shares did not change. Ajit Mishra, Senior Vice President (Research), Railor’s Broking Limited, said the ongoing uncertainty is making traders alert, which can affect the current trend among geopolitical tensions. Foreign institutional investors (FIIs) bought shares.
2,585.86 crore trading a day earlier
According to the exchange data, there was a turnover of Rs 2,585.86 crore on Wednesday. Among the Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite Index and Hong Kong’s Hangseng closed in positive scope. Europe’s markets were trading with an edge. The US markets closed with an edge on Wednesday. Global oil benchmark Brent crude rose by 1 per cent to $ 61.75 per barrel. The BSE benchmark rose 105.71 points or 0.13 per cent to close at 80,746.78 after swinging between high and low throughout the day on Wednesday. NSE’s 50 -point Nifty rose 34.80 points or 0.14 per cent to close at 24,414.40.
Also read: Pakistan’s attempt to attack military bases in 15 cities of India failed, all work from S-400
