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Bombay 4 days ago
Indian stock markets closed lower today. The Sensex fell 264 points to close at 48174. While the Nifty fell 53 points to close at 14146. Shares of Power Grid Corp, Bharti Airtel, ONGC, Ultratech Cement, ICICI Bank and others closed more high on the Sensex. Power Grid Corp rose 4.34% to close at 196.15. Power Grid Corp rose 4.34% to close at 196.15. Bharti Airtel rose 2.28 percent to close at 525.60. However, shares of ITC, Reliance, Bajaj Finance, Axis Bank, HCL Tech and others closed lower. The ITC fell 2.86 percent to close at 205.45. Dependence fell 2.64 percent to close at 1914.15.
Reasons for the market downturn
The US futures market fell sharply in the afternoon. Nasdaq futures fell 2% at the start of trading. Investors are nervous about the central budget. Because most market analysts believe the budget may not be as expected this time around in Coronan’s wake, Asian markets also saw a decline today. The Chinese and Hong Kong markets closed their doors, the Japanese Nikkei index falling. Investors sold shares of market leaders Reliance, TCS, SBI, Hindustan Unilever, Bajaj Finance and Infosys.
Asian markets close flat
Asian markets today recorded a modest recovery after an initial decline. Hong Kong’s Hang Seng Index closed 58 points higher at 27,708. Apart from that, the Shanghai Composite Index in China also rose 22 points to close at 3,550. Japan’s Nikkei Index in on the other hand, fell 109 points to close at 27,049.