Mumbai (Maharashtra) [India], October 12 (ANI): Indian stock markets closed decrease on Monday, with the Sensex falling 547.65 factors, or 0.76 per cent, to 71,924.68, whereas the Nifty 50 declined 157.10 factors, or 0.70 per cent, to shut at 22,363.35 amid persistent international investor outflows, rising bond yields and escalating tensions within the Middle East.
Market sentiment remained weak as traders weighed international uncertainties and inflation considerations. Rising crude oil costs and continued promoting by international institutional traders (FIIs) added to the strain on home equities.
Vikram Kasat, Chief Business Officer – Advisory and Dealing at PL Capital, stated, “Indian equities came under sharp selling pressure on Monday. Rising 10-year government bond yields, persistent FII outflows, escalating Middle East tensions and weak global cues have dampened risk appetite, while profit-booking has intensified volatility. Media, auto, realty and metal stocks showed relative resilience, whereas PSU banks, IT, FMCG and private banks remained under pressure”.
He additional added, “Although the rupee’s recovery and softer crude prices offer some relief, elevated yields and inflation concerns remain risks. Investors should favour fundamentally strong companies and stagger fresh investments until earnings visibility and market breadth improve.”
Trading throughout sectoral indices on the NSE was blended. The Nifty Media index gained greater than 4 per cent, rising because the strongest performer among the many sectors talked about. The Nifty Realty index rose 0.63 per cent, whereas the Nifty Auto index gained 0.60 per cent. The Nifty Pharma index superior 0.25 per cent.
On the shedding facet, the Nifty PSU Bank index declined 1.31 per cent, whereas the Nifty IT index fell 1.14 per cent. The Nifty Metal index dropped 0.55 per cent, and the Nifty Private Bank index misplaced 0.52 per cent.
Among Nifty 50 shares, Dr Reddy’s Laboratories, Bajaj Auto, BSE, Bharat Electronics Limited (BEL), Cipla and TMPV had been among the many prime gainers. Apollo Hospitals, ITC, Tech Mahindra, Larsen & Toubro (L&T), Max Healthcare and Hindalco had been among the many prime losers.
Commodity costs additionally remained in focus. Brent crude oil costs rose 1.15 per cent to USD 106 per barrel on the time of reporting, including to considerations about inflation and the potential influence of upper vitality prices.
Gold costs declined greater than 1.12 per cent to Rs 1,49,800 per 10 grams for pure gold, whereas silver fell 0.83 per cent to Rs 2,23,870 per kilogram.
Other Asian markets largely closed within the purple on Monday. South Korea’s KOSPI index recorded the steepest decline among the many main indices talked about, falling 3.79 per cent to six,384. Japan’s Nikkei 225 declined 0.02 per cent to 69,030, whereas Taiwan’s weighted index fell 0.02 per cent to 49,301. Hong Kong’s Hang Seng index gained 0.04 per cent, whereas Singapore’s Straits Times index rose 0.25 per cent. (ANI)