Sensex closes down nearly 53 points in volatile trade amid weak global trends
The Hindu
Benchmark BSE Sensex declined by nearly 53 points in a volatile trade amid weak trends from Asian and European markets and fresh foreign fund outflows.
Benchmark BSE Sensex declined by nearly 53 points in a volatile trade on May 21 amid weak trends from Asian and European markets and fresh foreign fund outflows.
The 30-share Sensex declined 52.63 points or 0.07% to settle at 73,953.31. During the day, it hit a high of 74,189.19 and a low of 73,762.37.
The broader Nifty of NSE, however, closed higher by 27.05 points or 0.12% to 22,529.05.
Among the Sensex components, Nestle, Maruti, IndusInd Bank, ICICI Bank, Hindustan Unilever, Larsen & Toubro, Tata Consultancy Services, Infosys, HDFC Bank and Axis Bank were the major laggards.
Tata Steel, JSW Steel, Power Grid, Tech Mahindra and State Bank of India were among the gainers.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled lower. European markets were trading in the negative territory. Wall Street ended mostly higher on Monday.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹92.95 crore on Saturday, according to exchange data.
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Non-Resident Indians (NRIs) from the Gulf Cooperation Council (GCC) region, once prominent investors in the Indian equity market are seen shying away due to rupee depreciation and have moved to global funds, said a top financial services executive.
Mobile phones are increasingly migrating to smaller chips that are more energy efficient and powerful supported by specialised Neural Processing Units (NPUs) to accelerate AI workloads directly on devices, said Anku Jain, India Managing Director for MediaTek, a Taiwanese fabless semiconductor firm that claims a 47% market share India’s smartphone chipset market.
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