The local stock market once again opened in the red mark amid a decline in global markets. The major benchmark index Sensex opened with more than 300 points, while the Nifty slipped below 22 thousand as soon as 50 opened. Foreign investors (FIIs) continue to sell from Indian stock markets. On Monday, FII invested Rs. Equity of Rs 4,788.29 crore was sold, while DII was Rs. Shares worth Rs 8,790.70 crore were purchased.
How can the market move forward today?
According to Srikanth Chauhan, the Equity Research Head of Kotak Securities, the level of 22,000 on Nifty and 72,800 on Sensex will serve as strong support for day-to-time businessmen. At the top, there will be resistance levels for 22,200/73,400 stunning. If the market goes above 22,200/73,300, it can move towards 22,250–22,300/73,500-73,800. On the other hand, if it falls below 22,000/72,800, investors can choose to quit their long position.
What are the signs coming from global markets?
On Tuesday, a decline trend is being seen in global markets. Most of the US stock markets closed down on Monday. Major Wall Street Indcks declined, S&P 500 declined by 1.76 percent, Dow Jones Industrial Average by 1.48 percent and Nasdaq Composite declined by 2.64 percent, causing NVDia’s stocks to fall by more than 8 percent.
Canada announced a counter -tariff on America
US President Donald Trump’s decision to increase tariffs on Canada and Mexico from Tuesday is likely to affect the notion of the stock market today. In response, Canada has also announced a “ventilative” fee on the US with immediate effect.