Stock market: The Indian Equity Index was a decline in the fifth consecutive trading session. The Nifty closed below 23,100 on 11 February. At the end of the trading session, the Sensex lost 1,018.20 points or 1.32 per cent at 76,293.60 and the Nifty fell 309.80 points or 1.32 per cent to close at 23,071.80. Today around 516 shares rose, 3330 shares declined and 92 shares did not change. The most damaged shares on Nifty include Apollo Hospitals, Eicher Motors, Shriram Finance, Coal India and Bharat Electronics. While the most profitable showers were Adani Enterprises, Trent, Bharti Airtel and Grassim Industries.
All the sectoral index closed at red mark with a 2-3 per cent fall in auto, consumer durables, capital goods, oil and gas, energy, FMCG, healthcare, power, PSU and realty. The Nifty Midcap index declined by 3 per cent. While the smallcap index saw a decline of 3.5 per cent.
Aditya Gaggar director of progressive shares Says that Mandadis made a strong comeback in the market after a slow start. Today there was a sharp decline in the entire market. There was a time when the Nifty went under its psychological support of 23,000. But in the end it managed to manage a bit and closed at 23,071.80 with a decline of 309.80 points. All sectors closed on the red mark. Among them, realty and media saw the biggest decline.
Real pain was seen in the broad market. Today, there was heavy selling in midcap and smallcap stocks. The mid and smallcap index fell by 3.02 per cent and 3.45 per cent. The technical structure remains weak for the market, the selling pressure on every surge is increasing. It seems that the index is moving towards touching its previous support of 22,800. If the Nifty seals this level, then it can go down to 22,600. Tatkal registration is visible at 23,240 upwards.
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Vinod Nair, research head of Geojit Financial Services The market is weakening due to the ongoing uncertainty, domestic economic development concerns and frequent selling by FIIs. Mid-and small-cap stocks have come down drastically due to demand related concerns and high valuation. However, with the intervention of RBI, there has been some improvement in the rupee from tomorrow’s record low. But it remains under pressure. There is a possibility of market fluctuations in the near future. Investors are expecting the PM’s visit to the US to relieve trade uncertainty. Bazaar will also be eyeing US inflation figures.
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