Sellers seem to be dominating the market. The market declined for the third consecutive trading session. On Tuesday, Nifty fell 143 points to close at 26,032, while Sensex fell 503 points to close at 85,138. Of the top 30 Sensex stocks, 10 closed in the green and 20 in the red. This morning Nifty opened 87 points lower at 26,088, while Sensex fell 316 points at 85,325. On Monday, Nifty also reached a lifetime high of 26,325.
Among the top 30 Sensex stocks, Asian Paints saw the biggest rise of 3.25 per cent, while Axis Bank saw the biggest fall of 1.25 per cent. Maruti, Bharti Airtel and Bajaj Finance closed in the green, while Reliance, ICICI Bank and HDFC Bank closed in the red.
Important factors for the market
Talking about the important factors for the market now, the Reserve Bank of India will announce its monetary policy this week and the Federal Reserve will announce its monetary policy next week. Rate cuts are expected from both the central banks. Russian President Putin is coming to India this week. The conversation will be closely monitored. Twenty-five IPOs worth ₹30,000 crore are coming this month. This will affect liquidity in the secondary market.
Nifty support in 26,100 range
And factors, the rupee is at its lowest level against the dollar and continues to fall. FIIs are also selling intermittently. Cryptocurrencies remain under pressure, which is weakening equity sentiment. However, on a technical basis, the 26,100-26,000 range holds considerable support for the market.
