The market had a weak start on the last trading day of the week. After the initial minutes the market showed a rise, but then started falling. Overall, the day was volatile. Sensex was trading 350 points down at 84,055. Nifty fell 110 points and slipped below 25,800.
What is the reason for this weakness and instability?
– Selling pressure from foreign institutional investors (FIIs) on the market for two days
– Foreign institutional investors are in no mood to stop selling or short-covering
– Difficult to maintain high level
– Improvement after sharp selling today
– Both Nifty and Bank Nifty slipped below our ideal sell levels
– Nifty below 25950, Bank Nifty below 58250
– Support from domestic funds available, but limited
Should we expect an improvement in the last hour?
– The screen is very weak.
– Both Nifty and Bank Nifty made lower highs and lower lows yesterday.
– Today there was heavy selling after the first rise.
– Markets are still weak today after breaking yesterday’s low.
– Recovery hopes are low, but PCR is oversold.
Even if there is recovery, it will be difficult to cross the range of Nifty 25875-25950 and Bank Nifty 58075-58250.
Which levels are important right now?
– Risk of weakness increasing if Nifty closes below 25700 and Bank Nifty closes below 57400.
– Nifty will have to close above 26050 and Bank Nifty will have to close above 58400 to get new strength.
stock rise
IDBI Bank:
– Huge jump in shares on the day of Group of Ministers meeting
– Decision will be taken on inviting financial bids
Tilaknagar Industries:
– Shares bounce back after long consolidation
– A big breakout above ₹500
Bandhan Bank:
As expected, the stock fell significantly.
– Our estimate was that the stock would remain under pressure for the next 1-2 quarters.
IDFC First Bank:
– Strong rise in shares
– Second best performer in futures trading
– Constantly included in our recommendation list
HPCL:
– Strong rise in shares on the second day after the results
Sensex rose 175 points in the morning. Meanwhile, Nifty also rose by about 40 points to above 25,900. Earlier, the Sensex opened 106 points lower amid selling in IT and metal stocks. Nifty fell 44 points to close at 25,833. Bank Nifty also fell 90 points and closed at 57,943. Midcap and smallcap indices remained almost stable.
Auto stocks fared slightly better. Eicher Motors, Maruti Suzuki, TCS, BEL, Bajaj Finance and Coal India were the biggest gainers on Nifty 50. NTPC, Max Health, Cipla, Hindalco, Tata Steel and Indigo were the biggest losers. If we look at the initial levels, the Sensex fell 25 points and opened at 84,379. Nifty opened 14 points lower at 25,863. Bank Nifty opened 89 points lower at 57,942 and rupee rose 11 paise to 88.59/dollar. After Thursday’s fall, today investors will keep an eye on both domestic and global cues. Heavy selling by foreign investors, global market movements and the pace of quarterly results will decide the direction of Sensex and Nifty today.
There was heavy pressure on technology stocks in the US markets. The Nasdaq fell 375 points, while the Dow Jones Industrial Average (DJIAO) closed 100 points lower, falling 500 points from its day’s high. However, Asian markets are showing signs of relief today. GIFT Nifty is steady around 26,050, while Nasdaq futures are up 300 points and Dow futures are up 70 points. Japan’s Nikkei has climbed 600 points to its all-time high.
Major triggers for the market today
Nasdaq fell 377 points, Dow fell 109 points
Nasdaq futures rose 300 points
Dollar index at 3-month high, metals slip
Gold broke the trend of 5 days of decline, silver shined
Results: ITC, NTPC, Bandhan, Dabur, IEX, Pidilite mixed
Results: United Spirits, Lodha, IIFL Finance strong, DLF weak
Nifty futures will have 8 results including BEL, Maruti, Shriram Finance
IMG meeting on IDBI Bank disinvestment
Lenskart IPO opens