Indian Stock Market Closes Marginally Lower Amidst Volatile Trading

Indian Stock Market Closes Marginally Lower Amidst Volatile Trading

VoM News Desk | November 23, 2023 | 09:45 PM IST | Breaking News | Follow on Google News

Indian Stock Market Closes Marginally Lower Amidst Volatile Trading

Indian Stock Market Closes Marginally Lower Amidst Volatile Trading

The Indian stock market witnessed a marginal decline in a volatile trading session on Thursday, with IT stocks retracting after a recent surge.

Key Highlights of the Trading Session

• Foreign Institutional Investors (FIIs): FIIs recorded a net inflow of ₹255.53 crore, buying stocks worth ₹7,348.72 crore and selling ₹7,093.19 crore.
• Domestic Institutional Investors (DIIs): DIIs also saw a net inflow, with purchases of ₹6,234.47 crore against sales of ₹457.39 crore, amounting to an inflow of ₹721.24 crore.
• Sensex and Nifty Performance: The BSE Sensex dipped slightly by 5.43 points to 66,017.81, while the Nifty fell by 9.85 points to 19,802.
• Broader Market Trends: The BSE smallcap index rose by 0.44%, and the midcap index gained 0.15%.

Sectoral Overview

• Declines in Key Sectors: Healthcare declined by 1.13%, IT by 0.46%, consumer durables by 0.44%, with smaller dips in tech, capital goods, and power sectors.
• Gains in Other Sectors: Realty, oil & gas, energy, telecommunication, and metal sectors witnessed gains, with realty leading at a 1.22% increase.

Market Outlook and Analysis

• Insights from Geojit Financial Services: Vinod Nair, Head of Research, highlighted the strong undercurrent in the broader markets, especially in mid- and small-cap counters. He noted the impact of declining oil prices and easing US bond yields as positive factors for broader market recovery.
• European Market Anticipation: The mixed trends in the European market ahead of the ECB minutes and the release of manufacturing index data were noted as influencing factors.

Currency Market Movement

• Indian Rupee Against US Dollar: The Indian rupee closed at 83.3425 against the US dollar, showing stability compared to its previous close of 83.32.

This trading session reflects the cautious approach of investors as they seek new triggers for a decisive market move, while also considering broader economic factors and international market trends.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.