Share Market News: The share market showed a decline today. On Thursday, there was a slight upswing in the market. However, today, selling pressure was seen.
Share Market News: The decline in the Indian share market continued today. The Indian stock market saw a sell-off due to weak cues seen in the global stock market. Today, both the Sensex and Nifty indices saw declines. Today, metal, IT and FMGC sectors witnessed declines.
At the close of trading today, the Bombay Stock Exchange index Sensex fell 123.52 points to settle at 60,682.70. Meanwhile, the national stock market index Nifty settled down 36.95 points at 17,856.50 points. Share prices of 10 out of 30 companies in the Sensex rose. So, out of 50 companies in Nifty, the share price of 23 companies showed an increase. So, the share prices of 27 companies fell.
Today’s Gaining Shares
Share prices of Powergrid, Tata Motors, Bharti Airtel, HDFC Bank, SBI, Ultratech Cement, HDFC, Titan, Maruti, Bajaj Finserv and Tech Mahindra saw gains in the market today.
Today’s falling Shares
Sun Pharma, Nestle India, Kotak Bank, Axis Bank, IndusInd Bank, TCS, Bajaj Finance, Hindustan Uniliver, Asian Paint, NTPC, M&M, Wipro, Infosys, Reliance, ITC, ICICI Bank, Tata Steel and HCL Tech were among the decliners.
Adani Shares hit by MSCI decision
A decision taken by the firm Morgan Stanley Capital International (MSCI) led to a sharp fall in Adani Group’s share price. MSCI has reduced the free float of four Adani group companies. The number of free floats in Adani Enterprises, Adani Total Gas, Adani Transmission and ACC has been reduced. According to Reuters, the number of free floats in other Adani Group companies will remain the same. The new decision / hearing will be implemented from March 1.
Profit of 1528 Crore to Mahindra & Mahindra
Auto giant Mahindra & Mahindra (M&M) has announced its quarterly results. The company’s profit rose 13.4 percent to Rs 1,528 crore in the December quarter. M&M’s net profit was Rs 1,336 crore in the same quarter last year. The revenue of the company has been Rs 21,654 crore. In the same quarter last year, the company had recorded a revenue of Rs 15,349 crore.
Also Read: AMC Stock Prediction: Will it Go Up or Down? (2022)
