stock market crash Today: bse sensex And nifty 50 Were in the red on Monday, struggling to find direction, investors closely monitoring January inflation figures, cpi inflation Retail inflation data for the month of January will be released after market close today.
At 12:10 pm, BSE Sensex was trading at 71,156.15, down over 430 points or 0.61%. Nifty50 was at 21,631.60, down 150 points or 0.69%.
Bank and IT stocks witnessed gains while RIL faced losses. Nifty PSU and IT indices saw notable gains, rising by more than 1% each. India VIX saw a jump of 5%.
According to Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, the S&P 500’s historic close above 5000 provides support to the bullish sentiments. However, rising US bond yields, currently at 4.17%, could prompt significant selling by FIIs, indicating an ongoing battle between bullish and bearish.
Despite lack of enthusiasm for early rate cuts in 2024 in both the US and India, market resilience indicates underlying strength. Positive economic indicators and sustained mutual fund flows support buying on dips, maintaining high market valuations for some time. Nonetheless, concerns remain over the inflated valuations of the broader market, emphasizing the safety of large-caps in the long term.
Shares of Multi Commodity Exchange of India (MCX) fell 8.4% to Rs 3,510 in intraday trade on Monday on BSE after it reported a net loss in its December quarter earnings, according to ET.
State-run Life Insurance Corporation of India (LIC), now India’s fourth-largest company by market value, saw its shares upgraded after the brokerage upgraded the stock and raised its target price following a strong third-quarter earnings report. Saw a rise of up to 6% and reached Rs 1,150.
Markets were volatile last week, with equity indices ending with modest losses. This week, investors will keep an eye on domestic and global macro data.
The S&P 500 closed above 5,000 for the first time on Friday and the Nasdaq briefly traded above 16,000. It was driven by megacap and chip stocks including Nvidia, as investors bet on artificial intelligence technology and eyed strong earnings data.
Foreign portfolio investors bought shares worth a net Rs 141 crore on Friday. Meanwhile, domestic institutional investors sold shares worth Rs 421 crore.
At 12:10 pm, BSE Sensex was trading at 71,156.15, down over 430 points or 0.61%. Nifty50 was at 21,631.60, down 150 points or 0.69%.
Bank and IT stocks witnessed gains while RIL faced losses. Nifty PSU and IT indices saw notable gains, rising by more than 1% each. India VIX saw a jump of 5%.
According to Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, the S&P 500’s historic close above 5000 provides support to the bullish sentiments. However, rising US bond yields, currently at 4.17%, could prompt significant selling by FIIs, indicating an ongoing battle between bullish and bearish.
Despite lack of enthusiasm for early rate cuts in 2024 in both the US and India, market resilience indicates underlying strength. Positive economic indicators and sustained mutual fund flows support buying on dips, maintaining high market valuations for some time. Nonetheless, concerns remain over the inflated valuations of the broader market, emphasizing the safety of large-caps in the long term.
Shares of Multi Commodity Exchange of India (MCX) fell 8.4% to Rs 3,510 in intraday trade on Monday on BSE after it reported a net loss in its December quarter earnings, according to ET.
State-run Life Insurance Corporation of India (LIC), now India’s fourth-largest company by market value, saw its shares upgraded after the brokerage upgraded the stock and raised its target price following a strong third-quarter earnings report. Saw a rise of up to 6% and reached Rs 1,150.
Markets were volatile last week, with equity indices ending with modest losses. This week, investors will keep an eye on domestic and global macro data.
The S&P 500 closed above 5,000 for the first time on Friday and the Nasdaq briefly traded above 16,000. It was driven by megacap and chip stocks including Nvidia, as investors bet on artificial intelligence technology and eyed strong earnings data.
Foreign portfolio investors bought shares worth a net Rs 141 crore on Friday. Meanwhile, domestic institutional investors sold shares worth Rs 421 crore.
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