weekly expiry The stock market has had a weak start today. BSE Sensex opened 86.24 points down at 72,536.85 points. At the same time, NSE Nifty fell by 6.80 points and opened at 22,048.25 points. Heavyweight stocks like HDFC Bank, Power Grid and Reliance Industries are witnessing a decline in early trade.
Let us tell you that the bullish trend in the stock market that had been going on for the last six days came to a halt on Wednesday. The Sensex based on 30 shares remained strong during trading but finally closed at 72,623.09 points with a decline of 434.31 points or 0.59 percent. Similarly, the National Stock Exchange’s Nifty closed at 22,055.05 points, down 141.90 points or 0.64 percent. Among the companies included in Sensex, 20 remained in loss. Whereas 37 shares of Nifty remained in loss. According to Vinod Nair, Head of Research, Geojit Financial Services, the market is facing resistance at higher levels and valuations of indices like midcap, smallcap, which represent more stocks, are significantly higher. Due to this, investors are avoiding taking risks and giving preference to profit making.
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