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  • Sensex Falls 200 Points And Nifty 50 below 17,800

    Sensex Falls 200 Points And Nifty 50 below 17,800


    Last Updated: February 06, 2023, 09:56 IST

    A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (File photo/Reuters)

    Meanwhile, Asian shares slipped on Monday after a run of upbeat economic data from the United States and globally lessened the risk of recession,

    Sensex Today: Indian equity markets saw a negative start on Monday with Sensex falling 200 points and Nifty 50 below 17,800 in early trade.

    Sensex declined 203.71 points to 60,638.17 in early trade. Nifty slipped 64.05 points to 17,790.

    Rupee declined by 35 paise to 82.43 against US dollar in today’s early trade.

    Last week, Sensex and Nifty rallied over 1 per cent on Friday due to heavy buying in banking and financial counters amid mixed trend in the global markets.

    The 30-share BSE benchmark Sensex zoomed 909.64 points or 1.52 per cent to settle at 60,841.88. During that day, it jumped 973.1 points or 1.62 per cent to 60,905.34.

    From RBI MPC To IIP Data: Top Trends To Drive Market This Week

    Foreign Institutional Investors (FIIs) again offloaded shares on Thursday after a day’s breather. They sold shares worth Rs 3,065.35 crore, according to exchange data.

    Meanwhile, Asian shares slipped on Monday after a run of upbeat economic data from the United States and globally lessened the risk of recession, but also suggested interest rates would have to rise further and stay up for longer, mews agency Reuters reported.

    The dollar extended its rally on the yen to a three-week top of 132.60 on Monday amid reports the Japanese government had offered the job of central bank governor to the current deputy, Masayoshi Amamiya.

    In equity markets, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.5%, with South Korea down 0.6%. Chinese blue chips lost 1.0%.

    Japan’s Nikkei added 1.1%, encouraged by hopes the BOJ would keep policy easy.

    S&P 500 futures and Nasdaq futures eased 0.2% as the stellar January payrolls report forced investors to price in the risk of more hikes from the Federal Reserve, and less chance of cuts later in the year.

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  • Sensex Soars 900 pts, Nifty Surpasses 18,000 level; Will the Rally Continue?

    Sensex Soars 900 pts, Nifty Surpasses 18,000 level; Will the Rally Continue?


    Last Updated: December 26, 2022, 15:18 IST

    Why is the Market Rising Today?

    Why is the Market Rising Today? Domestic markets wiped off opening losses and edged higher in Monday’s trade amid mixed global cues

    Why is the Market Rising Today? Domestic markets wiped off opening losses and edged higher in Monday’s trade amid mixed global cues. The Indian benchmarks kicked off the last week of 2022 on a firm note on Monday, led by gains in banking, financial and stocks after they suffered their biggest monthly losses in December – worst since 1994 – battered by a host of global headwinds like a resurgent Covid crisis, fears of further tightening of rates by central banks around the world, and a looming recession.

    At 2 PM, the Sensex is up 692.86 points or 1.16 percent at 60,538. Nifty is up 198.10 points or 1.11 per cent at 18,004.

    Broader markets, too, rose in tandem with benchmark indices, as Nifty MidCap 100 and Nifty SmallCap 100 indices advanced up to 1 per cent.

    Barring Nifty Pharma index, which was fractionally lower in trade, all sectors swimmed in the sea of green. Nifty Metal, and Nifty Realty indices gained the most, up to 1 per cent each.

    Nifty PSU Bank was trading nearly 5 per cent higher at 4,077.20 led by Indian Overseas Bank (up 11.83 per cent), Union Bank (up 11.03 per cent) and Bank of India (up 8.59 per cent).

    Ravi Singhal-CEO GCL, said: “As we can see, the market has bounced back exactly from the Cup and Holder pattern breakout 41,600 in November month. It has now been tested, so we believe one way can come from here for new high stop loss at 41,400.”

    Will the Rally Continue?

    “The market selloff on Friday was the consequence of the cumulative impact of Covid fears, valuation concerns, and margin calls in many momentum stocks. It is important to note that the 320 point cut in Nifty was caused on a day when DIIs bought heavily for Rs 3398 crores and FIIs sold only for Rs 706 crore,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

    “This means the selling was triggered by HNIs and retail which, in turn, triggered margin calls in momentum stocks that led to steep cuts in these segments. Heavy FII selling in call options in the derivatives segment indicate that recovery will be slow and tough,” Vijayakumar added.

    Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

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    Aparna Deb

    Aparna Deb is a Subeditor and writes for the business vertical of News18.com. Among other things, financial market, economy and policies interest her …Read More



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