News Cubic Studio

Truth and Reality

Stock market slipped from peak

Domestic stock markets fell today under selling pressure in banking and financial companies. The BSE 30-share sensitive index Sensex fell 52.94 points, or 0.10 percent, to 52,275.57 and the National Stock Exchange’s Nifty slipped 11.55 points, or 0.07 percent, to end at 15,740.10. On Monday, both the indices were at historical record levels.

Unlike big companies, investors put money in medium and small companies. BSE Midcap rose 0.38 per cent to 22,773.33 points and Smallcap gained 0.93 per cent to a record high of 24,826.64 points.

Selling in banking and financial companies put pressure on the market. State Bank of India’s shares closed 1.21 per cent lower, HDFC 1.18 per cent, Kotak Mahindra Bank 1.11 per cent and HDFC Bank 1.01 per cent lower in the Sensex.

There was buying in companies from IT, Tech, Telecom and Health sectors. Tech Mahindra rose 2.53 per cent, Bharti Airtel 1.91 per cent, HCL Technologies 1.83 per cent, Infosys 1.68 per cent, Titan 1.63 per cent, Dr Reddy’s Lab 1.07 per cent and ITC 1.04 per cent.

Asian stock markets fell. China’s Shanghai Composite lost 0.54 per cent, Japan’s Nikkei 0.19 per cent, South Korea’s Kospi 0.13 per cent and Hong Kong’s Hang Seng lost 0.02 per cent. In Europe, Britain’s FTSE gained 0.19 per cent in early trade, while Germany’s DAX was down 0.14 per cent.