Mumbai:
Local markets dominated the final trading day of FY 2024-25 on Friday amid uncertainties related to imposing counter customs duty in the US from April 2 on Indian imports. The Sensex fell by 191 points while the Nifty slipped around 73 points.
The 30-share index of BSE closed at 77,414.92, a 191.51 points, or 0.25 per cent, in the Sensex Sensex fluctuating business session. At one time during trading, it fell 420.81 points to 77,185.62.
The National Stock Exchange (NSE) standard index Nifty fell 72.60 points or 0.31 percent to 23,519.35. With this, the last trading day of FY 2024-25 closed down. In this financial year filled with fluctuations, the Sensex rose a total of 3,763.57 points or 5.10 percent, while the Nifty rose 1,192.45 points i.e. 5.34 percent.
Among the companies included in the Sensex, IndusInd Bank shares declined by more than 3.50 percent while Mahindra & Mahindra’s stock fell more than two percent. Apart from this, shares of HCL Tech, Maruti, Infosys, Zomato, Power Grid, Adani Ports, Tata Consultancy Services and UltraTech Cement were also in disadvantage.
On the other hand, the shares of Kotak Mahindra Bank, Hindustan Unilever, ICICI Bank, Tata Motors, Nestle and Bharti Airtel saw a boom. Other markets in Asia, South Korea’s Korea, Nikki of Japan, Shanghai Composite of China and Hangseng of Hong Kong closed with a huge decline.
Europe’s markets were trading in a negative area. On Thursday, the US markets declined. Vinod Nair, head of research of Geojit Investment Limited, said, ‘A new phase of strength is being seen in the Asian markets. The latest American duty steps are expected to have significant impact on major manufacturing economies.
Nair said that the speed in the market has stopped at the domestic level as investors are assessing the impacts of these fees on vehicles, medicines and other areas. According to the stock market data, foreign institutional investors (FIIs) on Thursday made net purchases of shares worth Rs 11,111.25 crore.
Global oil standard brent crude rose 0.18 percent to $ 74.16 per barrel. The BSE Sensex rose by 317.93 points to 77,606.43 on Thursday and NSE Nifty reached 105.10 points to 23,591.95.