Share Market Closing On January 27, 2023, BSE NSE , Share Market News NewsBust India Hindi Ndtv India | NewsBust Share Market Closing On January 27, 2023, BSE NSE , Share Market News NewsBust India Hindi Ndtv India | NewsBust

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Share Market Closing On January 27, 2023, BSE NSE , Share Market News NewsBust India Hindi Ndtv India

By Amit - January 27, 2023

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Similarly, NSE’s benchmark index Nifty also declined by 287.60 points, or 1.61 percent, to 17,604.35 points. This is Nifty’s biggest single-day fall since last December 23.

Among the companies included in the Sensex, State Bank of India (SBI), ICICI Bank, IndusInd Bank, Axis Bank, Kotak Mahindra Bank, HDFC Bank, Reliance Industries suffered the most.

Shares of Tata Motors and Mahindra & Mahindra were able to gain amid strong selling in the market. Shares of Tata Motors, which returned to a profitable position after several quarters, registered the highest gain of 6.34 per cent. ITC and UltraTech Cement also gained ground.

Vinod Nair, Head of Research, Geojit Financial Services, said, “An adverse research report on the companies of Asia’s richest entrepreneur led to a sharp decline in the Indian market. Banking stocks were also hit due to increased risk aversion on the banks lending to this group.” The effect is being seen. Public banks were hit more than private banks.

Nair said that a cautious approach by foreign institutional investors (FIIs) ahead of the general budget and ahead of the impending Federal Reserve meeting also led to a huge fall in the domestic markets. Shares of Adani group companies fell by up to 20 percent. Two days ago, American investment research company Hindenburg released a report and made serious allegations related to unfair business on this group.

Adani Enterprises, the representative company of the Adani Group, came up with a follow-on public offer (FPO) of Rs 20,000 crore on Friday itself, but its shares collapsed by 18.52 per cent in the wake of the Hindenburg report. Similarly, Adani Ports fell by 16 percent, Adani Power by five percent, Adani Green Energy by 19.99 percent and Adani Total Gas by 20 percent. In other markets of Asia, the indices of Seoul, Tokyo and Hong Kong closed with gains.

An upward trend was also being seen in the stock markets of Europe. A day ago, American markets were also in profit. International oil benchmark Brent crude climbed 1.35 per cent to $88.65 per barrel.

Meanwhile, foreign investors have continued to withdraw from Indian markets. According to available data, FIIs sold shares worth Rs 2,393.94 crore on Wednesday. The market was closed on Thursday on the occasion of Republic Day. (from input language)

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