Tumbled-Down Market

At the close, the Nifty 50 was at 17,891.95 down by 1.25%

The Nifty 50 index, which is a stock market index that comprises 50 of the largest publicly traded companies listed on the National Stock Exchange of India, has had a negative performance today, The NSE Nifty 50, India’s benchmark stock index, had a rough start to the day as it opened at a low and closed 1.25 percent lower, taking the index below 18000. This raises the question – is the NSE Nifty 50 in trouble?

It is difficult to answer this question definitively, as stock markets are notoriously volatile and unpredictable. However, it is worth noting that the NSE Nifty 50 has been on a downward trend for some time now, and this latest dip could be indicative of further losses in the near future.

It is also important to consider other factors such as global economic conditions and geopolitical events that could have an impact on the performance of the NSE Nifty 50. In addition, it is important to keep an eye on other indices.

Bank Nifty: Down by 2.54%

The Bank Nifty and BSE Sensex, which are stock market indexes that track the performance of banking and broader market stocks listed on the National Stock Exchange of India, respectively, have also had a negative performance today. The Bank Nifty opened in the red and closed down 2.54% at 41,647.65, and the BSE Sensex was down 1.27% and closed at a low of 60,205.06. It’s worth noting that stock market performance can be affected by a variety of factors and past performance is not necessarily indicative of future performance.

The Nifty PSU Bank index fell 3.5 percent, the Nifty Energy index declined 2 percent, while the Nifty infra, information technology and pharma were down more than 1 percent each. This indicates that the Indian stock market is facing a period of volatility, with investors uncertain about the future direction of the market.

Significant decline in the stock prices of companies in the banking, financial, energy, and real estate sectors, and that this decline was reflected in the broader stock market indices. The decline appears to have been around 1-1.5%.

Advance Decline Ratio

Today, the advance-decline ratio was 0.30, and the market breadth was negative. The volatility index India Vix increased by 7.30 percent to settle at 14.66 and the FIIs were net sellers today. These figures indicate that the Indian stock market is facing a period of uncertainty, with investors uncertain about where the market is headed in the near future.

DAILY MARKET ACTION
Advancers – 522
Decliners – 1715
52Wk High –  22
52Wk Low – 80
High Band Hitters – 41
Low Band Hitters – 71
200d SMA – 17290
50d SMA – 18263
20d SMA – 18036

Top Gainers and Losers Stocks

The top gainers were Bajaj Auto (+1.45%), Hindustan Unilever  (+1.13%), Hindalco (+0.90%), Britannia (+0.89%), and Maruti  (+0.82%).

The top losers were Adani Ports (-6.13%), SBIN (-4.35%), IndusInd Bank (-4.23%), HDFC Bank (-2.70%), and HDFC (-2.21%).

Top Gainers and Losers Sector

The top losers sector were Financial Services (-2.13%), Oil & Gas (-1.99%), Realty (-1.83%), Consumer Durables (-1.32%), and Media (-1.26%).

The Nifty Midcap 50 was down by 1.48 percent, while the Nifty Small Cap 50 down by 1.16 percent on the day.

The Nifty Midcap 50 index currently closed at 8,604.10, while the Nifty Small Cap 50 index currently closed at 4,252.70.

SECTORS – NOTABLE ACTION
FINANCIAL SERVICES -2.13%
OIL & GAS -1.99%
REALTY -1.83%

Stocks Ban List

Today, the Securities and Exchange Board of India (SEBI) has announced that currently there are no stocks in the ban list. This is a good sign for the markets as it indicates that companies have managed to stay within the guidelines set by the regulator. The market momentum is currently down.

IBULHSGFIN, IDEA, PNB, SAIL, and RBLBANK possible entrance in the ban list.

Daily Pivots

Nifty trading range has been within the 17780 to 18060 range.

Read previous -Daily Insights- here
Momentum Up to Down Market
Swing High Market
Nifty – Weekend High!

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