Business

Market recorded a fall, Sensex fell by more than 500 points

Mumbai: The Sensex fell over 500 points in early trade on Wednesday due to heavy selling in global markets and losses in HDFC Bank, ICICI Bank and Infosys.

Nifty closed down at 17,613.55

The 30-share Sensex was trading at 59,165.86, down 501.74 points or 0.84 per cent. Similarly, the Nifty closed at 17,613.55, down 135.05 points or 0.76 percent. ICICI Bank was the biggest loser in the Sensex with a fall of nearly two per cent. It was followed by HDFC Bank, Maruti, Bajaj Auto, Infosys and Bajaj Finserv.

Nifty closed with a decline of 0.60 percent

On the other hand, Dr Reddy’s, Tata Steel, Sun Pharma and Nestle India were among the gainers. In the previous session, the 30-share index was down 410.28 points or 0.68 per cent at 59,667.60 and the Nifty was down 106.50 points or 0.60 per cent at 17,748.60.

Seller sold shares worth Rs 1,957.70 crore

Foreign institutional investors (FIIs) were net sellers in the capital market and sold shares worth Rs 1,957.70 crore on Tuesday, according to stock market data. Among other major stock markets in Asia, the stock markets of Shanghai, Hong Kong, Tokyo and Seoul were trading with heavy losses in mid-session deals. Meanwhile, international oil benchmark Brent crude fell 1.51 percent to $ 77.17 per barrel.

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Shivam Bangwal

Shivam Bangwal is a young entrepreneur who hails from Uttarakhand. Shivam is a professional full time Digital Marketing and PR expert with a post graduation degree of Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Branding Panther and Digital Leader.

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