Markets fall after 2-day breather tracking weak Asian markets


PTI, Jun 22, 2022, 10:54 AM IST

Representative Image (Source: Shutterstock)

Mumbai: The Sensex and Nifty started the trade on a muted note on Wednesday and slipped into the negative territory after a two-day breather, following weak trends in Asian markets.

Unabated foreign fund outflows also played spoilsport for the markets. The 30-share BSE Sensex was trading 418.07 points lower at 52,114. The NSE Nifty fell 131.1 points to 15,507.70.

From the Sensex pack, Bajaj Finserv, Tata Steel, Bajaj Finance, Axis Bank, IndusInd Bank, Tech Mahindra, and Bharti Airtel were the major laggards in early trade.

On the other hand, Dr Reddy’s Laboratories, Maruti Suzuki India, and Hindustan Unilever were the gainers.

Elsewhere in Asia, markets in Hong Kong, Seoul, Shanghai, and Tokyo were quoting lower.

The US markets recorded smart gains on Tuesday.

“Pull-back rallies can be sharp and it was sharp yesterday. The important question is — will this continue? There is no economic news, except the softness in crude, to sustain the rally. There is no reason for FIIs to change their selling strategy since the dollar continues to be strong and US bond yields are attractive and expected to rise further,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The BSE Sensex zoomed 934.23 points or 1.81 percent to settle at 52,532.07 on Tuesday. The NSE Nifty climbed 288.65 points or 1.88 percent to finish at 15,638.80.

Meanwhile, international oil benchmark Brent crude tumbled 3.20 percent to USD 110.98 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 2,701.21 crore on Tuesday, as per exchange data.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Balasore tragedy result of composite negligence of railway officials: Orissa High Court

Actress Kasthuri stokes controversy by her remarks on Telugu-speaking people in TN

Three convicted for 2016 Kollam collectorate blast case

Expect Canadian government to ensure justice, uphold rule of law: PM Modi

Lone tusker spotted on NH-166 near Karkala, disrupts traffic

Lokayukta police summon Karnataka CM Siddaramaiah for questioning in MUDA case on Wednesday

Not ‘kaun banega mukhyamantri’ contest; MVA to name CM pick after polls: Jairam Ramesh

Related Articles More

SEBI mulls separation of non-regulated activities; ‘cross-default’ definition for debenture trustees

Sensex plunges 942 points to settle at nearly 3-month low; RIL, HDFC Bank biggest drag

Equity investors become poorer by Rs 7.37 lakh crore during morning trade as markets tumble

Maruti Suzuki looks to cash in on ‘few lakh marriages’ in Nov to carry festive sales momentum

Mcap of 6 of top-10 most valued firms jump Rs 1 lakh cr; State Bank, ICICI Bank top gainers

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Balasore tragedy result of composite negligence of railway officials: Orissa High Court

Actress Kasthuri stokes controversy by her remarks on Telugu-speaking people in TN

Three convicted for 2016 Kollam collectorate blast case

Expect Canadian government to ensure justice, uphold rule of law: PM Modi

Group clash in Indore after argument over bursting firecrackers: NSA slapped against 2 accused

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.