Closing Bell: Amidst ups and downs, the stock market fell due to these 3 reasons, Sensex fell by 330 points; Nifty closed at 23,092

Closing Bell: Despite the strength in global markets, domestic stock markets closed down on Friday (January 24) in the last trading session of the week. Due to concerns over the December quarter results of domestic companies, both the major indices closed in weekly decline for the third consecutive week. Profit-booking in heavyweight stocks like HDFC Bank, Reliance Industries and Mahindra & Mahindra also pulled the market downwards.

The 30-share BSE Sensex opened today with a slight fall at 76,455 points. During trading it had reached a high of 76,985 points and a low of 76,091 points. Finally, the Sensex closed at 76,190.46 points, down 329.92 points or 0.43%.

Similarly, Nifty50 of National Stock Exchange (NSE) also closed at 23,092 today, falling 113.15 points or 0.49% after swinging between red and green marks.

Reason for the fall in the stock market on Friday?

1. The process of selling by foreign investors (FIIs) continues. Foreign investors sold equities worth Rs 5,462 crore from domestic markets on Thursday (January 23).

2. Market sentiments have been affected due to December quarter results of domestic companies being below expectations. Due to this, both the major indexes closed in weekly decline for the third consecutive time.

3. Profit-booking in heavyweight stocks like HDFC Bank, Reliance Industries and Mahindra & Mahindra also pulled the market downwards.

Market experts say that domestic investors are still not seeing a ray of hope from the quarterly results of companies. Many analysts have described the third quarter results as “disappointing”.

How was the market on Thursday?

BSE Sensex traded in a narrow range on Thursday and closed at 76,520 with a gain of 115 points. At the same time, NSE Nifty 50 registered a gain of 50 points and ended the trading at 23,205.

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