Stock Market Closing: The Indian stock market recovered today after a big fall yesterday and hitting a seven-month low. Intra-day Sensex rose 624.77 points on the back of heavy buying in IT and technology stocks. Which ultimately increased by 566.63 points to close at 76404.99 and Nifty increased by 130.70 points to close at 23155.35.
Sensex IT stocks Infosys closed with a gain of 3.17 per cent, TCS 2.89 per cent and Tech Mahindra 2.28 per cent. HCL Tech. There was an increase of 1.35 percent. The index rose 1.88 percent on the back of attractive buying in some IT sector stocks. However, 20 stocks included in the IT index improved and 36 stocks declined.
market breadth negative
Out of total 4059 shares traded on BSE today, 1159 shares improved, while 2786 shares closed with a decline. 81 shares reached year’s highest level and 155 shares reached year’s lowest level. Apart from this, lower circuit was recorded in 313 shares and upper circuit was recorded in 182 shares. Which indicates caution as the market situation remains negative.
Smallcap decline, realty stocks down
In the stock market today, a difference of up to 15 percent was seen in small cap shares. The index fell at 807.86 points with 761 stocks out of 937 listed in the BSE Smallcap index falling heavily. On the other hand, the recession in realty stocks has increased. Lodha Developers fell 5.85 percent, Godrej Properties fell 5.18 percent, Oberoi Realty fell 5.00 percent. Realty stocks have been continuously falling for the last three-four trading sessions.
Sentiment turned sour after profit-booking in energy, metals and PSU stocks. Investors have become cautious amid continuous selling by FIIs and fear of economic recession. Investors are taking a wait-and-see approach on Trump’s policy and upcoming budget announcements.
