Market returns to green mark after ups and downs; Sensex up 100 points, Nifty crosses 22350

New Delhi| The domestic stock market also started with a rise on Thursday. Sensex and Nifty were on the green mark in early trade, but appeared flat. Sensex rose 87.42 points to 73,817.65, while Nifty rose 35.05 points to 22,372.35. However, as trading progressed, Sensex-Nifty came in the red. Similarly, the rupee also fell against the US dollar in early trade. Foreign institutional investors (FIIs) sold shares worth Rs 2,895.04 crore on Wednesday, according to stock market data.

The market lost its initial gains
Major stock indices Sensex and Nifty started trading on Thursday with a positive trend, but soon lost all gains. Sensex and Nifty were trading with a decline in volatile trading amid selling in shares of HDFC Bank and Bharti Airtel.

Such was the market movement
BSE’s 30-share Sensex opened 578.36 points percentage point higher at 74,308.59 in early trade. NSE Nifty climbed 154 points to 22,491.30. However, both indices soon lost their early gains and fell into the red. BSE Sensex fell by 305.25 points to 73,424.98 while Nifty fell by 86.05 points to 22,251.25.

Who benefits and who suffers?
Among Sensex stocks, there was a significant decline in shares of UltraTech Cement, Bharti Airtel, Titan, ITC, Kotak Mahindra Bank, Infosys, Nestle India, HDFC Bank and Bajaj Finserv. At the same time, shares of Asian Paints, Tata Steel, Reliance Industries, Zomato, Mahindra & Mahindra, HCL Technologies and Axis Bank were in profit.

The market had closed with gains yesterday
On Wednesday, the 30-share BSE Sensex closed at 73,730.23 with a gain of 740.30 points. NSE Nifty closed at 22,337.30 with a jump of 254.65 points after a record fall of 10 days.

Rupee fell by five paise against US dollar in early trade
The rupee failed to maintain its rising momentum and fell five paise to 87.11 against the US dollar in early trade. The sentiment was not boosted by a weak US currency and crude oil prices amid volatile stock markets and outflows of foreign funds. In the interbank foreign exchange market, the rupee opened strongly against the dollar at 86.96 and went up to 86.88. Soon, however, it lost an early lead to 87.11, a fivepenny drop from the previous closing price. The rupee had closed at 87.06 against the US dollar on Wednesday, up 13 paise.