Which stocks fell?
In early trade on the Nifty, Infosys shares were the biggest losers at 0.64 percent. Apart from this, shares of BPCL, HCL Tech, Powergrid and Tech Mahindra also closed in the red.
Asian stock markets fall
Asian stocks were also lower after a break in US markets on Tuesday due to China’s Covid-19-related policies and a cautious stance on Federal Reserve Chairman Jerome Powell’s speech on Wednesday. Apart from this, the stock markets of Japan, South Korea and Australia fell, while on the other hand, the futures market of Hong Kong also saw a fall.
Negative start for SGX Nifty
Nifty futures fell by 15 points on the Singapore exchange. As a result, the Indian stock market started negative.
Oil prices rose
Oil prices rallied in early trade on Wednesday due to a drop in crude inventories in the US. But concerns persisted that OPEC+ would make no changes to production policy at its upcoming meeting, limiting gains in oil prices.
Bullish condition on Tuesday too
Meanwhile, the bullishness of the domestic stock market continued for the sixth consecutive trading day on Tuesday. Sensex and Nifty hit all-time highs again. Markets continued to rally as strong trends in other Asian markets and continued foreign capital inflows. The Sensex closed up 177.04 points, or 0.28 per cent, at 62,681.84 points. While the index rose to 382.6 points at one point during the trade. Also, the Nifty closed at an all-time high of 18,618.05, up 55.30 points, or 0.30 per cent.
Foreign institutional investors have invested Rs 32,344 crore so far in November and have remained net buyers. According to the data, FIIs bought shares worth 935.88 crore on Monday.