The stock market fell for the second day on Thursday. Following this, the BSE Sensex lost 248 points. Market capitalization fell by Rs 2.42 lakh crore in a single day.
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Domestic stock markets fell on Thursday.
Weak global cues and the ongoing earnings season weighed on market sentiment.
Equity indices started the day with a gap. The market continued on a mostly downward path during the session.
Some buying activity in the second half led to some recovery from earlier lows. Investor sentiment was dampened by declines in Asian and European indices.
Rising tensions in the Middle East contributed to the cautious approach. Many investors reduced their exposure to the stock fearing a long-term conflict.
Auto stocks advanced during the session. Metals and energy sectors faced selling pressure.
Mid and small cap stocks outperformed their larger counterparts in the market.
Global market cues were weak. Also, the price of crude oil has continued to rise. The impact of these reverberated in the domestic market as well. Banks, financial institutions and consumer goods manufacturing companies were particularly hit. Due to this, the decline has become inevitable, stock brokerage firms said.
Global market cues were weak. Also, foreign funds are continuously leaving the Indian stock market. Also, IT services major Wipro's disappointing quarterly earnings numbers and earnings forecast have left investors worried. However, auto stocks had some support. However, realty, pharma, healthcare, metal, oil and gas stocks faced selling. As a result, the decline has become inevitable for the second day, stock brokerage firms said.
Market value decline: Market capitalization declined by Rs 44 thousand crore to Rs 320.96 lakh crore at the end of trading hours. Meanwhile, foreign institutional investors sold shares to the tune of Rs 1,831.84 crore on Wednesday, according to market statistics.
Sensex falls: The Sensex, which opened the morning at 65,484.61, fell 392.41 points to end at 65,343.50. The Sensex, which later touched a high of 65,869.65, eventually lost 247.78 points (0.38 per cent) to close at 65,629.24. 1,806 shares gained out of total traded volume of 3,832 shares on BSE. 1,896 stocks fell. 130 stocks remained unchanged.
26 Stocks Declined: 26 stocks were in decline and 4 stocks were gainers in the Sensex list. A total of 998 stocks were gainers and 1,078 stocks were losers in the national bourse. In the Nifty list, 17 stocks were in the gainer list and 33 stocks were in the decliner list.
Nifty loses 46 points: The Nifty Kai, comprising 50 top-tier stocks of the National Stock Exchange, fell 125.90 points to settle at 19,512.35, opening at 19,545.20. Later, the Nifty, which touched a high of 19,681.80, eventually lost 46.40 points (0.24 per cent) to close at 19,624.70.