Market Closes in Red

At the close, the Nifty 50 was at 18107.85 down by 0.32%

Today Indian stock markets started in the red, with the NSE Nifty 50 opening lower and closing at 18110, down by 0.32 percent. It was a difficult session, with investors responding cautiously to the uncertainty in the global markets. It’s important for investors to take a long-term view and stay up to date on the latest news and developments, so let’s take a look at what this could mean for the future of investing.

Factors Contributing to Market Decline

Analysts attribute the 0.32% decline in Nifty 50’s closing value to a range of factors, primarily the uncertain global economic climate and geopolitical tensions. The Indian markets are closely intertwined with global markets due to the large foreign portfolio investors in the country. This means that any declines in global markets have a direct impact on the Indian market as well. Unsurprisingly, geopolitical tensions and the fragile global economic climate have contributed to the 0.32% decline in Nifty 50’s closing value, which ended at 18107.85.

At the international level, many investors have become more cautious due to macroeconomic uncertainty, increasing trade war tensions and upcoming elections in key markets such as India, Europe and USA. This caution was reflected in the closing of the Nifty 50 index which ended at 18107.85, a 0.32% decrease from the previous day. While this was a small decrease, it signals more volatile market conditions ahead as investors anticipate the outcome of these elections and other geo-political uncertainties.

Impact of the Nifty 50 Close on Investment Strategies

The Nifty 50 close of 18107.85 can be interpreted as a sign that the market is adjusting to the current economy, rather than drastically changing due to external factors. This slight dip of 0.32% could indicate the market is trending downwards but is managing to remain stable despite current economic fluctuations. The Nifty 50 shows how investors are cautiously adjusting their investments, indicating that investors have faith in the current market, despite any external economic conditions.

Bank Nifty Open: Down 0.30%

The Indian stock market had a turbulent day on Thursday, as the Bank Nifty and BSE Sensex both opened in the red and closed lower. The Bank Nifty closed down 0.30 percent at 42328.85, while the BSE Sensex closed 0.31 percent lower at 60858.43 This was the lowest closing mark in two weeks. Investors will be closely watching to see if the market continues its downward trend.

This is a worrying sign for investors, as it suggests that the market sentiment is bearish in the near term. Although, there could be a few pockets of buying amidst the broader selling. As such, investors should keep a close eye on the Nifty index as the trading session progresses, to gauge any substantial changes in sentiment. Additionally, certain stocks may buck this trend and continue to show bullish momentum and could offer good opportunities to buy. Overall, although Bank Nifty opened on a weak note, investors will need to watch out for the key actionable cues that can provide insights into further price movements.

The some banks in the index, including IndusInd Bank, Kotak Bank and Bandhan Bank, were trading lower after opening the day. This was despite higher Asian markets in the morning, which were largely driven by sentiments of optimism around the US stimulus package.

Today, the advance-decline ratio was 0.69, and the market breadth was negative. The volatility index India Vix decreased by 2.87 percent to settle at 13.96 and the FIIs were net buyers today.

DAILY MARKET ACTION
Advancers – 905
Decliners – 1314
52Wk High –  39
52Wk Low – 43
High Band Hitters – 67
Low Band Hitters – 39
200d SMA – 17287
50d SMA – 18290
20d SMA – 18032

Top Gainers and Losers Stocks

The top gainers were Coal India (+3.34%), UPL (+2.16%), ONGC (+1.44%), BPCL (+0.92%), and Tata Steel (+0.86%).

The top losers were Adani Enterprises (-3.86%), Asian Paint (-3.12%), Tata Motors (-1.87%), IndusInd Bank (-1.80%), and Adani Ports (-1.72%).

Top Gainers and Losers Sector

The top gainers sector were Oil & Gas (+0.46%), and IT (+0.05%).

The top losers sector were Media (-1.00%), FMCG (-0.86%), Consumer Durables (-0.63%), Metal (-0.56%), and Auto (-0.43%).

The Nifty Midcap 50 was up by 0.01 percent, while the Nifty Small Cap 50 down by 0.52 percent on the day.

The Nifty Midcap 50 index currently closed at 8,755.35, while the Nifty Small Cap 50 index currently closed at 4,315.70.

SECTORS – NOTABLE ACTION
MEDIA -1.00%
FMCG -0.86%
CONSUMER DURABLES -0.63%
OIL & GAS +0.46%
IT +0.05%

Stocks Ban List

(SEBI) F&O ban list (DELTACORP open at 202.90 and close at 199.95), (L&TFH open at 95.00 and close at 95.85), (MANAPPURAM open at 117.00 and close at 113.60), and (GNFC open at 562.95 and close at 561.95), 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.

GNFC possiblities of exit from ban list.

IBULHSGFIN exited from ban list.

Daily Pivots

Nifty trading range has been within the 18060 to 18170 range.

Read previous -Daily Insights- here
Wedge Pattern Stocks
Stocks Sharp Rally
Stocks Low Performance

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