Share market down: The stock markets were once again in the red mark after losing their initial lead on Friday 14 February. The Sensex and Nifty have been observed continuously for the last 8 days. The decisions of the Modi-Trump meeting also did not show an impact on the market. In the afternoon trading, the Sensex fell 550.11 points or 0.72 percent to a low of 75,588.86. At the same time, NSE Nifty fell 188.1 points or 0.81 percent to 22,843.30. All the sectoral index was also trading in the red mark.
According to market analysts, there are 3 main reasons behind today’s decline in the stock market-
1. Trump’s reciperook tariff spoiled the mood
Donald Trump reiterated his policy of imposing ‘Reciperocle Tax’ i.e. ‘Tit’ tax on all countries including India, which today played an important role in spoiling the environment of the entire global market. Trump said, “Whatever tax India imposes our goods, we will also impose the same tax on it.” However, in the meantime, India and Trump have agreed to take the Indo-US bilateral trade to $ 500 billion by 2030. However, not much information related to this agreement has been revealed yet. Experts believe that uncertainty over tariff structure may reduce investors.
2. Foreign investors do not stop selling
Foreign institutional investors (FIIs) have continued their selling in the Indian stock market and have withdrawn around Rs 19,077 crore so far this month. Earlier in January too, he had withdrawn Rs 78,027 crore from the Indian market. Market Aperts says that the weakness and global economic uncertainties released in Indian currency have promoted this withdrawal. FIIS also purely sold shares worth Rs 2,789.91 crore on Thursday.
3. Weak results of Q3 put the effect on morale
Weak results of the third quarter have weakened the morale of the stock market even more. Shares of companies like Natco Pharma, Cenco Gold and Deepak Nitrite saw heavy selling on 14 February today due to weak results. Volume pressure is also seen on FMCGS companies, which shows dull consumers demand.
What does technical analysts say?
According to Anand James, Chief Investment Strategist of Geojit Financial Services, Nifty was facing resistance at 23,220, where the previous session saw a decline in the previous session. James said, “The upside target of 23,430 for the Nifty remains intact, but the next index fails to stay above 23,220 or slips below 23,000, its momentum may be weak. This trend can weaken. When it breaks below 22,800 Will need to be assessed again. “
Also read- This shares crashed as soon as it opened, 19% broke down, in investors race to sell stocks after poor results
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