A weak trend in global markets and foreign fund outflows weighed on investor sentiments.
A weak trend in global markets and foreign fund outflows weighed on investor sentiments.
Weak trends in global markets and foreign fund outflows weighed on investor sentiment, with Sensex falling over 470 points in early trade, as benchmark indices continued their fall on Tuesday, April 12, 2022. The Sensex was trading at 58,493.98, down 470.59 points. Business. Nifty closed 137.7 points lower at 17,537.25.
From the 30-share pack, Tata Steel, State Bank of India, Bajaj Finserv, IndusInd Bank, Larsen & Toubro, Tech Mahindra and Wipro were among the early laggards.
In contrast, only Maruti Suzuki, HDFC and Kotak Mahindra Bank gained.
“Market will remain volatile in the near term, drawn up and down by positive and negative news. Near-term headwind remains rising US bond yields which have crossed 2.8 per cent for 10-year and continued outflows. Equity.
According to Chief Investor VK Vijayakumar, “Tech-heavy Nasdaq has clearly weakened and this has led to some profit-booking in Indian IT stocks as well. But IT is likely to do well as TCS results in strong deal wins and order inflows.” indicate.” Strategist at Geojit Financial Services.
Bids were flat at ₹3,685.10, down 0.31 per cent after TCS announced its after-trade earnings on Monday.
Country’s largest software services firm Tata Consultancy Services on Monday began its fourth quarter earnings season, crossing Rs 50,000 crore revenue for the first time and reporting 7.4 per cent year-on-year growth in net worth. Profit of ₹9,926 crore.
“US stock markets fell sharply on Monday as investors began the holiday-shortened week in a risk-averse mood, as rising bond yields weighed on market-leading growth stocks ahead of significant inflation data.
“Asian markets are trading on a negative note as investors continue to monitor developments around the COVID situation in mainland China,” said Mohit Nigam, PMS Head, Hem Securities.
On Monday, the Sensex closed at 58,964.57, down 482.61 points or 0.81 per cent. The Nifty closed at 17,674.95, down 109.40 points or 0.62 per cent.
In Asia, markets in Hong Kong, Seoul, Shanghai and Tokyo were trading lower in mid-session deals.
US stocks also closed with a fall on Monday.
International oil benchmark Brent crude jumped 2 per cent to $100.45 a barrel.
Foreign institutional investors continued selling shares worth Rs 1,145.24 crore on Monday, according to exchange data.