In Tuesday’s trading session, Nifty witnessed a downward trend at its weekly close. The market witnessed huge fluctuations and closed in decline for the second consecutive day. The Midcap 100 index fell 403 points to close at 58,358. The Smallcap 100 index fell 144 points to close at 17,957. The market started with a positive trend but then fell to its lowest level during the day. Sensex was trading 450 points down. Nifty fell 150 points to below 25,100. Bank Nifty was down 335 points. Midcap index fell 500 points. The smallcap index also fell by up to 1%.
Anil Singhvi’s opinion on market movements
What is the main reason for the sell-off?
– The market weakened yesterday due to selling by foreign institutional investors.
Nifty is also under pressure due to weekly expiry today.
– Mild profit booking after one-way rally.
Which levels are important right now?
– Only signs of weakness will be seen in Nifty 25000, Bank Nifty 56000.
– Until then, consider this decline a minor correction.
– If Nifty closes below 25150 and Bank Nifty closes below 56300, then the day’s trading will pick up.
Reduce your position.
– On the upside, Nifty 25225-25325, Bank Nifty 56600-56750 are in the profit booking zone.
stock market boom
IREDA:
– Shares rise after positive results.
MCX:
– Rally in stocks due to increase in gold and silver prices and volumes.
After a positive start in the morning, Sensex was trading with a gain of almost 150 points. Meanwhile, Nifty also registered a gain of 70 points. Bank Nifty remained sluggish in the beginning, but then gained momentum. Buying was also seen in the broader market. Strong rise was seen in IT and metal stocks. HCL Tech was the biggest gainer in Nifty 50. Sensex opened at 82,404, up 77 points from the previous close. Nifty opened unchanged at 25,227. Bank Nifty opened 27 points lower at 56,598 and in the currency market the rupee weakened by 7 paise to 88.74/dollar.
Today many important signals were seen in the global and domestic markets. While US markets recorded a strong recovery, gold and silver prices reached new record levels. Meanwhile, on the domestic front, a significant decline in inflation, listing of LG Electronics and results from several key companies will decide the market direction today.
Strong recovery in American markets
US markets witnessed a strong rise on Monday amid expectations of easing trade tensions with China and speculation of interest rate cuts. The Dow Jones Industrial Average closed with a jump of 600 points. The Nasdaq jumped 500 points to close at its highest level of the day. The S&P 500 posted its biggest gain of 100 points since May 27. The main reasons for this rise were rising expectations of interest rate cuts, softening of US-China relations and strong buying in technology stocks.
Mixed trend in Asian markets
Amid global cues, Asian markets witnessed limited activity today. Nifty was trading stable around 25,325. Dow futures closed with gains of nearly 100 points. Meanwhile, the Nikkei 225 fell 500 points.
rise in gold and silver
Precious metals have seen a rise amid expectations of interest rate cuts and geopolitical uncertainty. In the international market, gold jumped by $ 100 and reached a new all-time high of $ 4,150. Silver jumped 6% and was trading above $51 for the first time. Similar growth was seen in the domestic market also. Gold hits new all-time high of ₹1,24,852 on MCX. Silver crossed Rs 1,55,000 per kg with a huge gain of Rs 8,000.