Market closes lower due to losses in consumer stocks amid weak earnings
The stock market closed lower on Wednesday due to losses in consumer stocks amid weak earnings.
The stock market closed lower on Wednesday due to losses in consumer stocks amid weak earnings.
The benchmark indices surged 1.8 per cent on the back of strong gains in capital goods, banking, energy, and auto stocks on Tuesday.
Stock market fell on Monday amid losses in global markets as the US President Donald Trump announced new tariffs on key trading partners, including Canada, Mexico, and China.
Stock market closed higher on Friday, a day before the announcement of Budget, for the fourth consecutive session.
At close, Sensex was up 654 points or 0.9 per cent at 76,555 and Nifty was up 206 points or 0.9 per cent at 23,163.
At 10.05 am, Sensex and Nifty traded in the 0.8-0.9 per cent range.
The Indian stock market's benchmark Sensex fell 337 points on Thursday after the US Federal Reserve hiked interest rate by 75 basis points and signaled that the borrowing costs would be increased further in the coming months.
"Financials, capital goods, select autos, telecom and construction related stocks can be bought on declines," Vijayakumar said.
The Indian stock market's benchmark Sensex slipped 263 points on Wednesday ahead of the US Federal Reserve's monetary policy outcome.
The Indian stock market's key indices rallied by around one per cent on Tuesday led by broad-based gains amid a rebound in global equities. The 30 stock S&P BSE Sensex closed 578.51 points or 0.98 per cent higher at 59,719.74 points against its previous day's close at 59,141.23 points.
