Despite the generally positive trend in the global market, the stock benchmark Sensex fell more than 100 points in early trading on Tuesday, tracking the declines of major index companies Reliance Industries, HDFC twins and Kotak Bank. The 30-share index fell 122.35 points or 0.20% to 60,596.36 in initial trading. Similarly, Nifty fell 45.45 points or 0.25% to 18,064. HDFC was the biggest loser in the Sensex package, with a drop of more than 1%, followed by Kotak Bank, Asian Paints, Kotak Bank, Reliance Industries and PowerGrid.

On the other hand, Tata Steel, M&M, Bajaj Finserv, Maruti, Nestle India and Tech Mahindra all led the way. On the previous trading day, Sensex closed at 60,718.71, up 32.02 points or 0.05%. Similarly, Nifty rose 6.70 points or 0.04% to 18,109.45.

According to exchange data, foreign institutional investors (FII) are net buyers in the capital market because they bought shares worth 42.474 crore on Monday. “The market trend may be largely influenced by global developments, especially the market’s response to rising inflation.

VK said: “The U.S. and European markets are dismissive of the high inflation rate of 6.2% in the U.S. This may give the global stock market flexibility in the short term, even if people are worried that stock prices will rise.” Geojit Financial Services Chief Investment Strategist Vijayakumar. In India, the Reserve Bank of India once again warned that Indian stock prices are much higher based on traditional valuation parameters.

But he pointed out that the central bank is optimistic about the ongoing growth recovery of the Indian economy. Elsewhere in Asia, exchanges in Shanghai, Hong Kong, Tokyo and Seoul rose in intraday trading. The American Stock Exchange closed slightly lower overnight. At the same time, the international oil benchmark Brent crude oil rose 0.89% to US$82.78 per barrel.

News Source : Zee News