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The stock markets started the week on a weaker note, with the Bense Sensex dropping 159 points to close at 35,264. The benchmark of the National Stock Exchange (NSE), Nifty, lost 57 points to establish at 10.657. The indexes were pulled down by a sell-off of metal stocks, as the NSE sector metal sector index – Nifty Metal – fell 1.8%. Profit-taking in large caps has led to a correction, analysts say. The weak sentiment in global markets, while trade tensions between the United States and its trading partners continued to be a major concern for investors, adding to the plunge in domestic stock markets. However, the decline was limited due to some purchases observed in computer stocks.
Here are five things to know about Monday's trading session:
1. Thirty-four shares on the Nifty index of 50 certificates finished in the negative zone. Hindalco Industries, Adani Ports, NTPC and Bharti Airtel resulted in losses of 3 to 3.5%.
2. "Profit-taking is seen in the big-cap space … where there is a bit of correction," said Siddharth Sedani, vice-chairman of the Equity Equity Board, Anand Rathi, quoted by Reuters. Developments on the global front have an impact on cyclical sectors such as metals, oil and gas, he added.
3. Asian stock markets have been plagued by further losses in China and crude oil has volatilized after US President Donald Trump tweeted that Saudi Arabia had agreed to lift oil production "may to be up to 2,000,000 barrels ".
4. At the same time, the Nikkei Manufacturing Purchasing Managers index, set by IHS Markit, reached 53.1 in June against 51.2 in May, the highest since December. This meant that industrial activity continued to grow for the eleventh consecutive month and indicated strong economic activity in the June quarter, after Asia's third-largest economy experienced its fastest growth in the first quarter. two years in January-March.
5. Foreign portfolio investors (REITs) sold shares with a net worth of Rs.157.15 million, while National Institutional Investors (IIR) bought shares worth Rs.2,262.83 on Friday. according to provisional data from the ESN
agency entries)
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