Despite a positive opening, the country’s stock market fell into decline on Thursday. At market close, the Sensex stood at 77,988 points. It declined by 122 points or 0.15 per cent from the last closing. The Nifty50 stood at 24,196 points. This index declined by 34 points or 0.14 per cent from the last closing.
However, the Sensex had risen by more than 600 points after the market opened on Thursday. But around 1 PM, the points of both benchmark indices started declining. After that, the Sensex had fallen by nearly 400 points. From there, it recovered and managed to control the extent of decline significantly in the final phase.
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Although the Sensex and Nifty50 points declined, the mid-cap and small-cap indices performed well. The small-cap index rose by 0.89 percent and the mid-cap index rose by 0.63 per cent. Mixed performance was also seen among the sectoral indices. In Nifty, sectoral indices like private bank, auto, bank, financial services, oil and gas declined in points. However, points of multiple sectoral indices like defence, metal, IT, and commodities increased.
Market experts have blamed the profit booking tendency for the decline in Sensex and Nifty50 points at the end, despite being on a growth path since morning. Profit booking tendencies were seen in sectors like banking, financial services, and auto. This has been identified as one of the main reasons for the market’s decline.
