The stock market went down slightly due to traders taking profits. The Sensex and Nifty indices both went up a little bit on Thursday, but they had been going down for the past three days. Energy, telecom, and utility stocks helped the market recover a bit at the end of the day. However, foreign investors are taking their money out of the Indian market, which makes traders nervous. The Sensex and Nifty have been very volatile lately. On Thursday, the Sensex went up 64.55 points to 59,632.35, and the Nifty went up 5.70 points to 17,624.45.
The market is focused on Q4 earnings right now. Traders are worried because some companies in the IT sector didn’t make as much money as expected. The global market is also not doing well because people expect interest rates to go up and some US companies had mixed earnings reports. Vinod Nair, Head of Research at Geojit Financial Services, said that because of all these worries, foreign investors have been taking their money out of India this week. On Wednesday, the Sensex went down 159.21 points to 59,567.80, and the Nifty went down 41.40 points to 17,618.75.
Oil prices also went down on Thursday. Brent crude declined by 1.89% to USD 81.55 per barrel. Foreign investors sold Rs 13.17 crore worth of equities on Wednesday, according to exchange data.