There is a new bomb on tariffs for domestic stock markets. Trump has increased the tariff from 25% to 50% on India on the purchase of oil from Russia. The older rates from today will be implemented from August 27. In such a situation, there was a big ups and downs in the market on the weekly expiry of the Nifty. But then the market showed recovery from lower levels. The Nifty recovered around 300 points from below and closed close to 24625. The Sensex recovered around 875 points and closed close to 80700. Bank Nifty recovered 650 points and closed close to 55600. Mid-multicap stocks also saw strong recovery from lower levels. In the second half, the market slipped more, after which the indexs recovered from the lower levels in the last hour. The Sensex fell about 600 points throughout the day, why the market declined so much?
– Heavy selling pressure from foreign institutional investors (FIIs)
– Market declines due to Trump’s antics
– Pressure to reduce the fast position on the day of expiry
– Selling increased due to significant support level breakdown
– Market declines due to heavy fall in mid-jokes
Has the risk of new decline increased?
– Nifty broke the important levels of 24450 in Intrade, Bank Nifty 55150
– Fear of falling declining due to closure of Nifty below 24450, Bank Nifty 55000
Which level must be closed above?
– The strength will return only when the Nifty is closed above 24600, Bank Nifty 55650
Stock market stir
Auto, metal and oil and gas index saw the biggest decline. Only the media index remained in the green mark. The start in the morning was weak and after opening the Sensex was showing 265 points weakness. Then from here it was at a level of 80,339 with a weakness of 204 points. The Nifty was at a level of 24,502 with a weakness of 70 points. The bank Nifty was around 55,293 with a decline of 117 points. The Nifty midcap was around 56,463 with a weakness of 286 points. The Nifty saw a boom in Hero MotoCorp, Wipro, Trent, ITC, HDFC Life, Nestle India. Bajaj Auto, Tata Motors, Adani Enterprise, Adani Ports, Eaterial saw a decline.
The Sensex opened 281 points to 80,262 against the previous shutdown. The Nifty fell 185 points to open at 24,464. Bank Nifty fell 196 points to 55,215 and the rupee opened 5 paise to 87.68/$. The US futures markets were trading in the green mark. However, after a weak start, there was a slight recovery in the gift Nifty. But then it slipped around 24600. Dow Futures topped 50 points. Nikkei rose 300 points.
Trump chip and semiconductor will impose 100 percent tariffs on imports … The date has not been announced yet. The Government of India described Trump’s tariff as unfortunate, unfair and unfair and said that every necessary step would be taken to protect national interests. American markets had a boom on the strength of tech shares. Nasdaq jumped 250 points to close at the highest level of the day, while Dow climbed 80 points. Crude oil declined for the fifth consecutive day and went below $ 67. Gold reached close to $ 3440 and silver by $ 38 after five consecutive days.
Amid tariff uncertainties, foreign institutional investors sold for the 13th consecutive day. Yesterday there was a net selling of more than 6000 crores, including large selling of cash of 5000 crores. Domestic funds purchased Rs 6800 crore in the market for the 23rd consecutive day.
