There is a sell-off going on in the market. There is weakness in both Sensex and Nifty. Mid-cap and small-cap indices are down by half percent. The metal index of Nifty is down about two percent. Trying to provide IT stock support to the market.
Infosys, TCS, Tech Mahindra, HCL Tech, HUL are supporting the market. Nifty is under pressure due to selling in RIL, HDFC Bank, ICICI Bank, HDFC, and SBI.
Earlier, on the second trading day of the week, the stock market gave a strong start. The stock market started strong on the second trading day of the week as well. The Sensex opened with 100 points at 52,429, while the Nifty opened with a gain of 22 points at 15,774. Nifty had hit an all-time high of 15,778 today. Shares of Indian Overseas Bank jumped over 7%.
There was all-around buying in the domestic stock market on the first trading day of the week. The BSE Sensex closed at 52,328 with a gain of 228 points, or 0.44%. NSE Nifty was at 15,752 with a gain of 0.52% or 81.40 points. Nifty's small-cap index gained 1.24% while the mid-cap index gained 1.56%.
Today the shares of HFCL, SJVN, KPR Mills, Crisil, Laurus Labs, Schneider, Happiest Mind, Piramal Enterprises, Torrent Power, and MMTC have gone to 52 week high.
Today the financial results of these companies are coming – Engineers India, Petronet LNG, Max Financial Services, Essar Shipping, Galaxy Surfactants, PTC India, Prestige Estates, Shemaroo Entertainment, Suven Pharma, Talbros Automotive Components, Titagarh Wagons, Wonderla Holidays.
Most Asian markets are down. China's Shanghai Composite is down nearly half a per cent. Hong Kong's Hang Seng is down 0.31%. However, there is a slight decline in Korea's Kospi. Only Japan's Nikkei is strong. It is up 0.15% from Monday's close. Australia's All Ordinary has a strength of 0.05%.
There was a mixed trend in the US market. The S&P500 declined marginally. Market eyes were on the minimum global corporate tax rate. The Dow Jones was down 126 points at 34,630. The S&P500 index closed at 4,226, down 3.37. However, the Nasdaq Composite climbed 67.23 points to 13,882.
According to provisional data available on the NSE, on June 8, foreign institutional investors (FIIs) sold shares worth a net Rs 186 crore. That is, he had sold shares worth so much more than the number of shares he had bought. Unlike FIIs, domestic institutional investors (DIIs) bought shares worth Rs 983 crore in net form.
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