Downturn in Market

At the close, the Nifty 50 was at 18027.65 down by 0.44%

The Indian market was affected today as NSE Nifty 50 started at low and ended in red at 18027.65, with a 0.44 percent decrease from the opening figure. Nifty, which is a stock market index of NSE, is a collection of 50 stocks and helps in measuring the performance of the top 50 companies. Nifty was down by 0.44 percent and closed below 18030 at the end of trading today. This indicates a weak trend in the Indian Market and NSE Nifty 50 closed in red.

This downturn in market is likely to have a lasting effect on portfolios and investments, as investors are being more cautious with their money while they wait to observe the broader trends both domestically and internationally.

Factors Contributing to Market Decline

The negative sentiment of today’s market appears to be driven by a range of factors, most notably the uncertainty around foreign investments. Investors are also wary of economic slowdown in major markets and RBI’s monetary policy stance. In spite of this, some stocks still managed to notch up gains for the day.

This marks a significant decrease in market value, showing a concerning downward trend for Indian markets. The benchmark index was Nifty below 18030 at the time of market closure and had closed in red. This decrease in NSE Nifty 50 shows a concerning downward trend in Indian markets and will be closely monitored by investors.

Bank Nifty: Up by 0.42%

The Indian stock market had a volatile day as the BSE Sensex and the Bank Nifty opened in opposite directions and moved in opposite directions for the day. The Bank Nifty opened in green and was up by 0.42 percent, closing positively at 42,506.80. However, the BSE Sensex was down by 0.39 percent and closed in red at a low of 60,621.77 It was a day of contrasting performances as the markets reacted to a variety of news and announcements. Read on to look at what drove the markets today.

The banking sector in India has witnessed a period of significant growth and transformation in recent years. As per the latest figures, BANDHAN BANK leads the pack with 2.29 points followed by BANK BARODA with 1.07, HDFC BANK with 0.92, ICICI BANK with 0.63 and SBIN with 0.53 points respectively. This data clearly highlights the importance of these banks in the Indian banking sector and their continued effort to provide quality services to their customers while adapting to the changing market conditions.

Today, the advance-decline ratio was 0.64, and the market breadth was negative. The volatility index India Vix decreased by 1.23 percent to settle at 13.79 and the FIIs were net sellers today.

DAILY MARKET ACTION
Advancers – 866
Decliners – 1361
52Wk High –  45
52Wk Low – 50
High Band Hitters – 65
Low Band Hitters – 30
200d SMA – 17289
50d SMA – 18283
20d SMA – 18043

Top Gainers and Losers Stocks

The top gainers were Coal India (+1.36%), Power Grid  (+1.18%), HDFC Bank (+0.92%), HDFC (+0.70%), and ITC  (+0.69%).

The top losers were Hindustan Unilever (-3.76%), Asian Paint (-2.83%), Bajaj Finance (-2.77%), Nestle India (-2.55%), and JSW Steel (-2.25%).

Top Gainers and Losers Sector

The top gainers sector were Financial Services (+0.17%), and Oil & Gas (+0.14%).

The top losers were Media (-1.36%), Consumer Durables (-1.03%), FMCG (-0.96%), Metal (-0.90%), and Pharma (-0.73%).

On the day, The Nifty Midcap 50 and the Nifty Small Cap 50 were down by 0.78 percent and 0.63 percent respectively. This decrease in share prices is indicative of a bearish market sentiment as investors are seemingly cautious about investing in these stocks. The volatility of the markets is evident from this sudden drop across both midcap and small cap indices. It remains to be seen if the bearish trend will continue or if it’s a short-term dip that will reverse soon.

The Nifty Midcap 50 index currently closed at 8,687.15, while the Nifty Small Cap 50 index currently closed at 4,288.65.

SECTORS – NOTABLE ACTION
MEDIA -1.36%
CONSUMER DURABLES -1.03%
FMCG -0.96%
FINANCIAL SERVICES +0.17%
OIL & GAS +0.14%

Stocks Ban List

(SEBI) F&O ban list (DELTACORP open at 199.95 and close at 201.75), (L&TFH open at 96.10 and close at 94.70), (MANAPPURAM open at 114.00 and close at 115.45), and (GNFC open at 562.00 and close at 563.50), are not currently on the stock exchange.

The Securities and Exchange Board of India (SEBI) has banned DELTACORP, L&TFH, MANAPPURAM, and GNFC from trading in the futures and options (F&O) segment of the stock exchange.

MANAPPURAM and GNFC possiblities of exit from ban list.

IBULHSGFIN exited from ban list.

Daily Pivots

Nifty trading range has been within the 17970 to 18120 range.

Read previous -Daily Insights- here
Market Closes in Red
Wedge Pattern Stocks
Stocks Sharp Rally

This article is only for educational purposes and is not an investment advice.