Sensex breaks 4-day rising streak ends 150 pts lower
By Lokmat English Desk | Updated: June 29, 2022 17:53 IST2022-06-29T17:53:45+5:302022-06-29T17:53:45+5:30
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The four-day rally in the stock markets came to a halt on Wednesday amid profit-taking, and global signals, and the benchmark Sensex fell more than 150 points.
At one point during the trade, it had broken 564.77 points, or 1.06 percent, to 52,612.68 points. Similarly, the wide-based National Stock Exchange Nifty fell by 51.10 points, or 0.32 percent, to close at 15,799.10 points. Out of 50 Nifty stocks, 34 were at a loss.
However, gains in shares of NTPC, Reliance Industries, Sun Pharma, Ultratech Cement, and ITC gave some support to Sensex. Ajit Mishra, Vice-Research, Religare Broking Ltd, said.
However, buying shares of some large companies offset some of the losses. Korea's Kospi and Hong Kong's Hang Seng declined.
Vinod Nair, head of research at Geojit Financial Services, said that uncontrolled and sustained rise in inflation has led to a sharp decline in consumer confidence. However, staying strong in some major companies helped reduce losses.