June 7 Equity benchmark indices prolonged their decline for the third day working on Tuesday, with the BSE Sensex tumbling over 559 factors in early commerce, as international funds outflow and elevated crude oil costs continued to play spoilsport forward of the RBI’s coverage resolution on Wednesday.
The 30-share BSE Sensex was buying and selling 559.46 factors decrease at 55,115.86. The broader NSE Nifty fell by 161.05 factors to 16,408.50.
From the Sensex pack, Titan, Dr Reddy’s, HUL, Asian Paints, Nestle, Sun Pharma, Maruti and Kotak Mahindra Bank have been the largest laggards.
In distinction, NTPC and Reliance Industries have been the gainers.
Elsewhere in Asia, markets in Tokyo and Shanghai have been buying and selling within the inexperienced, whereas Hong Kong and Seoul have been quoting decrease.
Stock markets within the U.S. had ended with positive factors on Monday.
“Two crucial numbers coming this week are significant – RBI’s rate hike tomorrow and inflation rate in the U.S. expected on Friday. The market direction is likely to be influenced more by inflation in the U.S., which, in turn, will decide how far the Fed will go in raising rates.
“This would be the key determinant of doable ‘danger on’ or ‘danger off’ in fairness markets globally,” mentioned V.Ok. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
The Sensex declined 93.91 factors or 0.17% to finish at 55,675.32 on Monday. The Nifty fell 14.75 factors or 0.09% to complete at 16,569.55.
Meanwhile, worldwide oil benchmark Brent crude jumped 0.69% to $120.33 per barrel.
Foreign institutional buyers offloaded shares price a internet ₹2,397.65 crore on Monday, in line with inventory trade information.
Source: www.thehindu.com
