By Admin 
Stock Market Today: The local stock market declined for the second consecutive day on Tuesday i.e. 14 October. BSE Sensex fell 297 points to close at 82,029.98, while NSE Nifty fell 82 points to close at 25,145.50. The domestic market remained in loss amid weak trend in Asia and Europe and capital withdrawal by foreign institutional investors (FIIs).
Shares of these companies fell
The Sensex, based on 30 shares, could not maintain the initial gains and at one point fell to 545.43 points during trading. The major Sensex losers include Bajaj Finance, Bharat Electronics, Tata Steel, TCS, NTPC, Trent, Asian Paints and Axis Bank. On the other hand, Tech Mahindra, ICICI Bank, Power Grid, Hindustan Unilever and Reliance Industries were among the gainers.
Regarding the market decline, Enrich Money CEO Ponmudi R believes that in the absence of new domestic signals, widespread profit-booking was seen in the stock markets. Weak signals from Asian and European markets affected investor sentiment. He further said that the increase in US-China trade tensions increased risk aversion, which increased the attractiveness of safe assets like gold and US Treasury bonds.
European market also declined
In other markets of Asia, South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite and Hong Kong’s Hang Seng closed with losses. There was also a declining trend in the afternoon trading in the major markets of Europe. American markets closed sharply on Monday.
Global oil standard Brent crude fell 1.82 percent to $ 62.17 per barrel. According to the data, foreign institutional investors sold shares worth Rs 240.10 crore on Monday. On Monday, Sensex fell by 173.77 points while Nifty lost 58 points.
Also read: Why is India increasing its gold reserves so aggressively, China also increased its imports tremendously?
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