Promoting was broad-based with 27 of the 30 sensex shares closing within the pink. Overseas funds offered aggressively whereas home establishments had been sturdy patrons, BSE information confirmed. On the NSE, Nifty misplaced 247 factors to shut at 22,273.
Along with the geopolitical tensions in West Asia, rising inflation within the US which may doubtlessly delay fee cuts by the Federal Reserve additionally weighed on investor sentiment, brokers and fund managers mentioned.
In keeping with Naveen Kulkarni, chief funding officer, Axis Securities PMS, geopolitical tensions and inflationary headwinds within the western world have led to strain on fairness markets worldwide. “Whereas India is comparatively higher positioned, larger crude oil costs are a big dampener. (On the optimistic facet), in line with the information stream at this juncture, the escalating geopolitical tensions aren’t very excessive, (therefore) market corrections is probably not very important,” Kulkarni mentioned.
In Monday’s session, whereas overseas portfolio buyers had been internet sellers at Rs 3,268 crore, home funds had been internet patrons at Rs 4,763 crore, BSE information confirmed.
Amongst sensex constituents, solely three shares — Maruti, Nestle and Solar Pharma — closed with good points. Promoting was extra pronounced in mid-cap and small-cap segments, on account of which, BSE’s mid-cap and small-cap indices every closed 1.5% down. Within the broader market, there have been 3,043 shares that closed with losses in comparison with 877 with good points.
Within the subsequent few days, along with the continued battle in West Asia, quarterly outcomes from giant corporates would additionally dictate the market’s path, brokers and sellers mentioned.
