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 9.35 a.m., Sensex traded at 59,238.99 points, up 464.27 points or 0.79 per cent, whereas Nifty traded at 17,662.00 points, up 139.55 points or 0.80 per cent.
At 9.18 a.m., Sensex traded at 59,380.92 points, up 295.49 points or 0.50 per cent, whereas Nifty traded at 17,684.25 points, up 79.30 points or 0.45 per cent.
At 9.27 a.m., Sensex traded at 58,661.81 points, down 112.06 points or 0.19% per cent, whereas Nifty traded at 17,478.75 points, down 11.95 points or 0.068 per cent.
Indian stocks seemed to have lost some steam as they declined for the second consecutive session on Monday primarily due to mild profit booking.
In July, they were, however, the net buyer with a total purchase of equities worth Rs 4,989 crore. So far in August, they bought equities worth another Rs 36,716 crore, data showed.
