Sensex News: On Wednesday, benchmark equity indices fell due to persistent foreign money outflows and negative global market trends.
Bajaj Finance, HDFC Bank, IndusInd Bank, Tata Motors, Tata Steel, Bajaj Finserv, JSW Steel, and ICICI Bank were the top laggards from the Sensex pack.
ITC, Tech Mahindra, Infosys, State Bank of India, Wipro, HCL Technologies, Hindustan Unilever, and NTPC were among the winners.
Trading was negative on Asian markets in Seoul, Tokyo, Shanghai, and Hong Kong.
In the end, Tuesday’s US stock markets declined.
As tomatoes, vegetables, and other food items increased in price, retail inflation soared to a 15-month high of 7.44 percent in July. This was the first time this fiscal year that retail inflation exceeded the Reserve Bank’s comfort level.
Strong external and internal headwinds could have a short-term negative effect on the market. Rising US bond rates and the dollar index are two global headwinds. As a result, FIIs are selling. Rising inflation within the country is the main obstacle, according to Geojit Financial Services’ Chief Investment Strategist V K Vijayakumar.
To reach USD 84.69 per barrel, benchmark Brent crude prices fell 0.24 percent.
According to exchange statistics, foreign institutional investors (FIIs) sold stocks worth Rs 2,324.23 crore on Monday.
Tuesday’s equity markets were closed in observance of “Independence Day.”
The BSE benchmark increased 79.27 points or 0.12% to close off the day at 65,401.92. The Nifty finished at 19,434.55 up 6.25 points, or 0.03 percent.