Indian stock market today, trading in a highly cautious mood and indices wobbling Session with mixed global, domestic cues impacting the investor sentiments.
Nifty 50 and Sensex moved around, signifying the level of chaos that exists in market right now.
NIFTY 50 intraday: Market indecisive today looking at the level of turbulence in Nifty 50. At higher levels it had to battle selling but it tried to hold key support zones.
Sensex went through the motions as well, reacting similarly to the Nifty on fluctuating gains/losses. It was guarded, with most struct short term vs longer term investments.
Surprisingly, Indian equity remained significantly influenced by overseas market or at least trends from the US and Asian markets. Investor confidence was dampened by uncertainty around trade disputes and international economic policies.
Domestic Economic Data: Investors followed domestic economic data releases (like inflation, industrial output) to get the pulse on the Indian economy. Yields, corporate earnings reports (especially from sectors such as the banking and IT that are watched closely by the market.
Sectoral counters traded mixed, few sectors giving support with outflows from others. IT stocks getting some support through positive global cues
Also check:- Market Update: Nifty Surges Amidst Volatile Trading
Banking and Financial Services : Volatility driven by concerns of asset quality & movement in Interest Rate.
Market analysts cite a prudent market with investors being more of the wait-and-see type. Moving forward, we could see short-term volatility due to global geopolitical risks and domestic economic data. But analysts are still optimistic about the medium term growth prospects for Indian market on account of solid fundamentals and reforms.
Adhere to heightened vigilance and closely assess the global accompanying domestic economic outlooks. Scheduled Sectoral news and corporate earnings will be a continuous driver in terms of market moves. Traders must mind their p’s and q’s and execute risk management in a disciplined manner.
