Mumbai, November 19 (IANS). After witnessing a tremendous rise on Tuesday due to the latest tension between Ukraine and Russia, the Indian stock market finally lost its impressive gains due to heavy profit-booking.
After gaining more than 1,100 points during intra-day trading, the Sensex took a break and closed with a gain of 239 points. The reversal came as Ukrainian armed forces were reported to have launched their first ATACMS missile strike on the Russian border, prompting the Kremlin to warn of serious consequences.
Heavy purchases were seen in the media sector. Nifty Media recorded a gain of 2.45 percent.
Sensex closed at 77,578.38 with a gain of 239.37 points or 0.31 per cent and Nifty closed at 23,518.50 with a gain of 64.70 points or 0.28 per cent.
Nifty Bank rose 262.70 points or 0.52 per cent to 50,626.50. The Nifty Midcap 100 index closed at 54,548.25, up 503.45 points or 0.93 per cent.
The Nifty Small Cap 100 index closed at 17,677.35, up 170.10 points or 0.97 per cent.
Apart from Nifty Media, buying was seen in Auto, IT, Pharma, FMCG, Realty and Private Bank sectors.
M&M, HDFC Bank, Tech Mahindra, Titan, Tata Motors, Sun Pharma, Ultra Tech Cement, Adani Ports, Power Grid, Infosys, Axis Bank and TCS were the top gainers in the Sensex.
Whereas, Reliance Industries, SBI, Tata Steel, Bajaj Finserv, Maruti and L&T were the top losers.
On the Bombay Stock Exchange (BSE), 2,326 shares were trading in the green and 1,637 shares were trading in the red. There was no change in 96 shares.
India VIX rose 3.26 percent to 15.66, indicating increased volatility in the market.
“Nifty remained volatile throughout the session due to the sudden increase in geopolitical tensions between Russia and Ukraine, which took the index below its 200-day moving average (DMA) once again,” said Jatin Trivedi of LKP Securities.
Experts say that there is a selling situation in the market due to increasing geopolitical tension and re-intensification of war between Russia and Ukraine. With this the pressure on the rupee has increased.
Foreign institutional investors (FIIs) sold shares worth Rs 1,403 crore on November 18, while domestic institutional investors bought shares worth Rs 2,330 crore.
–IANS
SKT/ABM
