On Tuesday, the stock market had a rough day. The Sensex, which is a key measure of stock performance, dropped just a little — by 12.85 points, closing at 74,102.32. However, the Nifty, another important index, rose by 37.60 points to finish at 22,497.90 thanks to some strong performances in the real estate sector.
The market was cautious because Wall Street had a tough day before, with worries about the U.S. economy slowing down. Even though the banking sector struggled, especially IndusInd Bank, which fell over 27% due to problems with its accounting, other banks like ICICI Bank helped offset some losses.
Real estate stocks did well, with increases of up to 7% for companies like DLF and Godrej Properties. Meanwhile, oil companies saw their stock prices rise between 1.4% and 3% after some good news about lower crude oil prices.
On the global stage, markets showed some signs of recovery after a big drop, especially on Wall Street, where the tech-heavy Nasdaq had its worst day in over two years. The Indian rupee also gained slightly, boosted by a weaker U.S. dollar.
In oil news, prices went up as concerns about a possible U.S. recession kept investors on alert. Meanwhile, foreign investors sold shares worth Rs 485.4 crore, while domestic investors bought shares worth Rs 263.5 crore.
Leave a Reply