The August series started in domestic stock markets today, but the market still opened weak amid weak signals. After this, the index also tried to overcome the lower levels, but the market was further slipped. Overall, the August series started weak. The Nifty fell 200 points to close close to 24550. The Sensex fell 600 points to close close to 80600. The bank Nifty fell 350 points to close close to 55600. Mid-multicap stocks declined drastically. India Vix jumped 4%. Today there was heavy selling in pharma stocks. NIFTY MIDCP fell at 56689 at 56689. NIFTY Smallcap100 fell at 17685 to fall down at 17685. At the same time, Trent +3.5%, Asian Paints +1.5%, HUL +1.5% and Nestle +1.5% rose with an all -round decline in Europe. Asian markets also saw weakness in the morning. Dow Futures fell 350 points.
What is the reason for weakness today?
– Pressure due to frequent selling of foreign institutional investors (FIIs)
– Tension on tariff also increased
– The results are not very bad, but not very special
– Domestic institutional investors are shopping, but retail investors are not in shopping mood
If it is closed below, then weakness will increase further?
– Weakness will increase if the Nifty closed below 24600, bank Nifty 55500
– Next big support for Nifty is 24400-24550
– Next big support on bank Nifty is 55375-55575
-24850-24950 in Nifty Recovery, Bank Nifty is 56075-56300 upper range
How was the beginning?
On opening in the morning, the Sensex fell 170 points to trading at 81,018 levels. During this time the Nifty fell 62 points to around 24,705 levels. Bank Nifty weakened 93 points to around 55,868. The Nifty Midcap 100 was also on a slight decline. However, it opened in the green mark.
Even today, shopping was seen in auto and FMCG stocks. Shares like HUL, Eicher Motors, Maruti, Nestle India, Tata Consumer were trading on the Nifty. At the same time, Sun Pharma, Infosys, Dr. Reddy, Adani Enterprises, Wipro, Tech Mahindra, Sipla were sold. That is, clean selling was seen in IT and Pharma. However, the market was initially at 62%.
In the morning, the gift Nifty fell by 150 points to close to 24725. Then there was some recovery from there. Dow futures had a weakness of 100 points. Nikkei slipped around 300 points. Yesterday, there was a business of weakness in the US markets. Nasdaq and S&P slipped after touching their all -time high levels in Intrade, while Dow closed 330 points in the selling for the fourth consecutive day.
Yesterday, FII continued selling on the monthly expiry for the ninth consecutive day. A net selling of Rs 8350 crore including cash of Rs 5600 crore was Rs 8350 crore, while domestic funds bought shares worth Rs 6400 crore during the purchase of 19 consecutive days.
