The market temper has turned a bit cautious with better-than-expected US jobs information in May.
The market temper has turned a bit cautious with better-than-expected US jobs information in May.
Benchmark indices continued to fall on Monday, with the Sensex declining 227 factors in early commerce as buyers remained cautious amid unabated promoting by overseas funds and elevated crude oil costs.
The 30-share BSE Sensex was buying and selling 226.7 factors decrease at 55,542.53 factors. The broader NSE Nifty fell by 67.05 factors to 16,517.25 factors.
From the Sensex pack, Tech Mahindra, Asian Paints, Wipro, Hindustan Unilever Limited, Bajaj Finserv, Infosys, Tata Steel and Titan have been the largest laggards.
In distinction, M&M and Axis Bank have been the gainers.
Elsewhere in Asia, markets in Tokyo, Shanghai and Hong Kong have been buying and selling within the inexperienced.
Stock markets within the US had ended decrease on Friday.
“The market mood has turned a bit cautious with better-than-expected US jobs data (3.90 lakh jobs) in May. This good economic news is negative from the market perspective since it means the Fed is likely to tighten aggressively without bothering about a possible recession.
“For India, elevated crude costs and a USD 23 billion commerce deficit in May are areas of concern. Even although FPI promoting has come down in early June, they’re more likely to promote extra at greater ranges,” V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned.
The BSE Sensex ended 48.88 factors or 0.09% decrease at 55,769.23 factors on Friday. The NSE Nifty dipped 43.70 factors or 0.26% to complete at 16,584.30 factors.
Meanwhile, worldwide oil benchmark Brent crude jumped 0.79% to USD 120.63 per barrel.
Foreign institutional buyers offloaded shares price a web Rs 3,770.51 crore on Friday, in accordance with inventory trade information.
Source: www.thehindu.com
