On February 6 on the day of Nifty Expiry, there was pressure in the market. The Nifty has closed close to 23,600 today. At the end of the trading session, the Sensex fell 213.12 points or 0.27 percent to close at 78,058.16 and the Nifty closed at 23,603.35 with 92.95 points or 0.39 percent. Today around 1871 shares rose, 1907 shares declined and 124 shares did not change.
In the sectors, all the sectoral index except pharma, IT, private bank closed on the red mark. Auto, FMCG, realty, consumer durables declined by 1-2 percent, while metal, PSU bank, energy, media, oil and gas fell by 0.4–0.8 percent. The most fallen shares on the Nifty include Trent, Bharat Electronics, Bharti Airtel, Titan Company, NTPC. While the shares of Cipla, Adani Ports, Infosys, Dr. Reddy’s Labs, Tata Consumer were increased.
Aditya Gaggar director of progressive shares Says that once again 50dma proved to be a big resistance. After a strong start, the index did not manage to stay at the upper levels. They slowly lose their land throughout the day and finally closed at 23,603.35 with a loss of 92.95 points. Talking about sectoral indexes, Pharma and IT came out as top gainers, while Realty and FMCG faced the most decline. There was a large deviation in the broad market. The midcap led to more than 1 percent correction. While Smallcap performed more or less the same as the Nifty 50.
On the Daily Chart, the Nifty 50 created a bearish candlestick pattern. However, support for Nifty is visible at the level of 23,520. At the same time, a break above 23,800 is necessary to confirm the continuity of uptrend.
The market will remain in the market by the end of March, the work of investing in quality shares in the decline will work -Dilip Bhatt
Prashant Tapse of Mehta Equality Says that despite registering a sharp lead in a few minutes of early trade, the market slipped into the red mark and in most parts of the trading session wandered in a limited scope with negative trends. Investors made profits in rate sensitive shares like realty, banking and auto before yesterday’s monetary policy announcement. If there is a big cut in rates, then we can see short term fast.
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