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Stock Market vs Capital Market: Looks Like India is Reborn Today!!

New Delhi: The Indian equity benchmarks began trading in the negative zone on Wednesday, following the lead of the global Stock Market. The Asian Stock Market faltered as US Treasury rates reached new two-year highs and a global technology company sell-off unnerved investors. Back home, the 30-share BSE Sensex was down 253 points, or 0.42 percent, at 60,502, while the NSE Nifty was down 77 points, or 0.42 percent, at 18,037 as of 9:18 a.m. today.

Mid- and small-cap stocks were down, with the Nifty Midcap 100 index down 0.76 percent and small-cap stocks down 0.58 percent. On a stock-by-stock basis, Wipro was the highest Nifty loss, down 1.40 percent to 624.45 along with the laggards were IndusInd Bank, Shree Cement, HDFC Life, and Tech Mahindra. ONGC, Bajaj Finance, Tata Steel, Coal India, and Mahindra & Mahindra, on the other hand, were among the winners.

Sensex, BSE, Nifty, NSE shares price today: Stock Market Live updates

On the BSE, the Total Stock Market breadth was negative, with 1,134 shares gaining and 1,418 decreasing. Wipro, Infosys, IndusInd Bank, Tech Mahindra, Sun Pharma, and HCL Tech suffered great losses on the 30-share BSE platform, with their shares falling as high as 1.67 percent in early trade. Among other, winners were Bajaj Finance, Tata Steel, Bajaj Finserv, Maruti, Reliance Industries, and Power Grid. Meanwhile, the benchmark BSE Sensex down 554 points, or 0.90 percent, to 60,755, while the wider NSE Nifty fell 195 points, or 1.07 percent, to 18,113.

On the other side, Asian Paints, Reliance Industries, Titan, Bajaj Finance, and Sun Pharma, were trading higher. In the previous session, the Sensex down 236.48 points, or 0.54 percent, to 43,357.19, while the Nifty fell 58.35 points, or 0.46 percent, to 12,690.80. According to preliminary exchange statistics, foreign institutional investors continued to be net purchasers in the capital market on Thursday, purchasing shares worth 1,514.12 crores. According to Arjun Yash Mahajan, Head Institutional Business at Reliance Securities, the trade setup in India does not appear to be an inspiration, since global markets are trading lower today, drawing cues from U.S. Stock Market.

Deep Impact of Stock Market in Indian Economic & Trading Business:

The market did not react much yesterday after the Finance Ministry announced fiscal stimulus under Aatmanirbhar Bharat 3.0, citing profit-booking. Meanwhile, industrial production has returned to positive territory after a six-month hiatus, owing mostly to the stronger output in the mining and power sectors. According to the Index of Industrial Production (IIP), industrial production increased by 0.2 percent in September.

On the global front, U.S. shares finished down as investors were concerned owing to the continuous rise of COVID-19 cases and the possibility of new restrictions on firms. Brent crude was trading 1.59 percent lower at USD 42.84 a barrel on the international oil market.

About the author

Shipra Sharma

Shipra Sharma

Shipra has done his graduation in Mass Communication and her immense love for literature pushes him to be a great writer. She dedicates her time in improving his vocabulary and writing skills. Before Fox Activity, she has worked as an associate author in esteemed newspapers. Contact her at shipra@youngindiaface.in