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Friday, August 6, 2021

Indian Share Market Sensex And Nifty Close at Lower Benchmark

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The BSE closed on the red mark on the last trading day of the week, i.e Friday. It was going on strong for three days straight. The flagship index: Sensex of Bombay Stock Exchange closed down at 487.43 points.  Moreover, it was down to 0.97 percent, at 50792.08.

Even, the National Stock Exchange’s Nifty also was down. At 0.95 percent, It closed at 143.85 points, down to the level of 15030.95. This Thursday, the domestic stock market was closed on the occasion of Maha Shivaratri,  While the Sensex gained 1,305.33 points. Around 2.65 percent in the previous week.

The decline in the domestic market

The domestic market had an impact due to the rise in COVID cases in the country. Further, rising COVID cases have led to a complete lockdown in Akola, Maharashtra from 8 o’clock tonight.

The last 24 hours saw a reporting of over 23,000 covid cases. This is a large number of covid cases in the last few days. Moreover, there is a decline in Europe’s stock market. Hong Kong’s Hang Seng index also closed with a steep decline of 2.3 percent. The major sectors of the domestic market are selling.

The situation of Big shares

The shares of BPCL, Power Grid, IOC, JSW Steel, and Titan closed on the green mark. On the other hand, HDFC Life, Bajaj Auto, Adani Ports, Hindalco, and SBI Life shares closed at the red mark.

Sectoral index tracking

Looking at the sectoral index, then all the sectors closed on the red mark. These included Finance Services, FMCG, Auto, Private Bank, Realty, Media, PSU Bank, IT, Bank, Pharma, and Metal.

The market opened strongly

The Sensex opened 507.73 points (0.99 percent) higher at 51,787.24 in early trade. At the same time, the Nifty was up by 136.10 points at 15,310.90, or 0.90 percent.

Strong performance on the third consecutive day

The stock market performed strongly for the third consecutive day on Wednesday. Pharmaceutical, IT, and auto company stocks gained strength in the market amid a positive trend. The 30-share BSE Sensex gained 254.03 points. It performed at 0.50 percent, to close at 51,279.51. Similarly, the Nifty of the National Stock Exchange was up 76.40 points and closed at 15,174.80.

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