The impact of the rally in the global markets did not show up on the local markets.
Mumbai: The Bombay Stock Exchange continued to fall on Monday In the mixed trading session, the Sensex closed 151 points and the Nifty closed below 10,900 points. The impact of the rally in the global markets did not show up on the local markets. Brokers said that the disappointment of quarterly financial results of some automobile companies had accelerated the sale of shares in this sector. The 30-share Sensex of the Bombay Stock Exchange fell 36588.41 points to 36,300.48 points and finally ended at a loss of 151.45 points or 0.41 per cent to 36,395.03. In the last two trading sessions, the Sensex was 429 points broken.
The National Stock Exchange's Nifty closed at 49.80 points, or 0.50 per cent, at 10,888.80 points. During the trading, Nifty came down to the lowest level of 10,857.10 and went up to 10,930.90 points. Vinod Nayar, Head of Research, Geojit Financial Services said that despite the uptrend in global markets, the pressure of selling in the local markets remained under pressure. Due to the upcoming general elections, investors are scared to take risks.
He said that the quarterly results of the companies have not surprised the investors and the market sentiment has affected the earnings and the possibility of falling. Nair said that the market is affected by the global trade agreement and the fear of coming under the hike. Investors' eyes will now be on the inflation data and industrial production figures based on the Consumer Price Index coming on Tuesday.
Shares of auto companies remain in loss. The biggest loss was the share of Mahindra and Mahindra, which broke five percent. The company had announced the results of the December, 2018 quarter on Friday, according to which its net profit fell by 11.44 per cent to Rs 1,076.81 crore. Meanwhile, sales of automobile companies fell for the third consecutive month in January. According to SIAM data, sales of auto companies declined by 1.87 percent during the month.
Among other companies, shares of ONGC, Bajaj Finance, Reliance, SBI, Hero MotoCorp, ICICI Bank, L & T, Vedanta, Yes Bank and Axis Bank were down 2.54 percent. On the other hand, Tata Steel's share rose 2.31 percent. The company's consolidated net profit rose 54.33 percent to Rs 1,753.07 crore for the quarter ended December, 2018. Powergrid, HCL Tech, Kotak Bank and Maruti's shares rose 1.36 percent in other companies.
Meanwhile, according to the provisional figures of the stock exchanges, on Friday, domestic institutional investors sold shares of Rs 960.04 crore, while Foreign Portfolio Investors bought 843.73 crore rupees. In Asian markets, Shanghai Composite was 1.36 percent, Hong Kong's Hang Seng 0.50 percent and South Korea's Cosplay 0.17 percent. Japan had a holiday on Monday in the market. In the initial business the European market was operating in profit.
Mumbai: The Bombay Stock Exchange continued to fall on Monday In the mixed trading session, the Sensex closed 151 points and the Nifty closed below 10,900 points. The impact of the rally in the global markets did not show up on the local markets. Brokers said that the disappointment of quarterly financial results of some automobile companies had accelerated the sale of shares in this sector. The 30-share Sensex of the Bombay Stock Exchange fell 36588.41 points to 36,300.48 points and finally ended at a loss of 151.45 points or 0.41 per cent to 36,395.03. In the last two trading sessions, the Sensex was 429 points broken.
The National Stock Exchange's Nifty closed at 49.80 points, or 0.50 per cent, at 10,888.80 points. During the trading, Nifty came down to the lowest level of 10,857.10 and went up to 10,930.90 points. Vinod Nayar, Head of Research, Geojit Financial Services said that despite the uptrend in global markets, the pressure of selling in the local markets remained under pressure. Due to the upcoming general elections, investors are scared to take risks.
He said that the quarterly results of the companies have not surprised the investors and the market sentiment has affected the earnings and the possibility of falling. Nair said that the market is affected by the global trade agreement and the fear of coming under the hike. Investors' eyes will now be on the inflation data and industrial production figures based on the Consumer Price Index coming on Tuesday.
Shares of auto companies remain in loss. The biggest loss was the share of Mahindra and Mahindra, which broke five percent. The company had announced the results of the December, 2018 quarter on Friday, according to which its net profit fell by 11.44 per cent to Rs 1,076.81 crore. Meanwhile, sales of automobile companies fell for the third consecutive month in January. According to SIAM data, sales of auto companies declined by 1.87 percent during the month.
Among other companies, shares of ONGC, Bajaj Finance, Reliance, SBI, Hero MotoCorp, ICICI Bank, L & T, Vedanta, Yes Bank and Axis Bank were down 2.54 percent. On the other hand, Tata Steel's share rose 2.31 percent. The company's consolidated net profit rose 54.33 percent to Rs 1,753.07 crore for the quarter ended December, 2018. Powergrid, HCL Tech, Kotak Bank and Maruti's shares rose 1.36 percent in other companies.
Meanwhile, according to the provisional figures of the stock exchanges, on Friday, domestic institutional investors sold shares of Rs 960.04 crore, while Foreign Portfolio Investors bought 843.73 crore rupees. In Asian markets, Shanghai Composite was 1.36 percent, Hong Kong's Hang Seng 0.50 percent and South Korea's Cosplay 0.17 percent. Japan had a holiday on Monday in the market. In the initial business the European market was operating in profit.
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