Stock Market: Market lost early gains, Sensex closed with a fall of more than 300 points

Highlights

The stock market closed on the red mark after losing the initial lead.
Sensex 337 and Nifty fell 80 points.
Investors lost money for the third consecutive day this week.

New Delhi. The Indian stock market once again closed with a fall today. Sensex closed 337.31 points down at 53,549 and Nifty lost 82.10 points at 15,976. Today the markets were open with a positive mood, but as the day’s trading progressed, the bears took it over and the selling started. The market has closed on the red mark for the third consecutive day this week.

On Wednesday, the Sensex opened with a strong gain of 343 points at 54,210 and started trading, while the Nifty rose 74 points to open at 16,128 and started trading. However, this boom could not continue for long. In the sectoral indices of Nifty, except Nifty Pharma, all others were either in negative or registered very slight gains. Nifty Pharma registered a growth of over 1 per cent.

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Top Gainer and Loser
IndusInd Bank, Bharti Airtel, HDFC, HDFC Bank and Reliance Industries were the top losers of Nifty in today’s trade. On the other hand, JSW Steel, DV Lab, Hindustan Unilever, Cipla and Asian Paints were the top gainers on Nifty.

The market was closed on the red mark on Tuesday
The Sensex closed at 53886.61 with a loss of 508 points (0.94 per cent) at the end of the previous session i.e. Tuesday. On the other hand, the Nifty closed at 16058.30 with a fall of 157.70 points (0.97 per cent).

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Mixed performance of Asia markets
Most markets in Asia also saw a decline. The Singapore Stock Exchange closed down 0.68 per cent at 15,950. At the same time, Japan’s Nikkei closed with a gain of 0.54 percent. Apart from this, there was a rise of 2.68 percent in the Taiwanese market. China’s Shanghai Composite market saw a gain of 0.09 percent.

good news on the economic front
The National Statistical Office (NSO) has released the latest figures of industrial production. These are showing signs of a good recovery in the Indian economy. According to the data released by NSO, the country’s industrial production index (Index of Industrial Production) has grown at a rate of 19.6 per cent in May 2022. This improvement in the growth rate is mainly responsible for the good performance of the manufacturing, power and mining sectors.

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Tags: BSE Sensex, business news, Business news in hindi, Nifty50, stock market

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