In the NSE today’s market session was a wild ride for Investors, Nifty 50 and other important indices of markets showed higher degree of volatility. The trading of this particular day was heavily clouded by both macro-global economic turbulences as well as sector wise domestic news which led to session where there were gainer and losers both.
Movements in the Nifty 50 and Sensex:
Initially upbeat, Nifty 50 fell further into selling during the day. S&P batted around intraday by breaking up upward progression from time to time.
Sensex rose and fell with the Nifty mostly – same nature of volatility.
Though trading volumes were still down the deck peccaud pitched customers to stay neutral.
Key Market Drivers:
This is caused by global economic issues In the background, geopolitical concerns about possible interest rate hikes in US and Europe dampened investor sentiment.
Increased uncertainties over global commodity prices, and especially crude oil did not help market sentiment
Sectoral Performance:
There were pockets of strength in the IT sector, with export positive cues being a major driver. From banking and financial services, selling in the sector was primary due to the perceived heightened risks with respect to asset quality, potential regulations etc. Auto sector had mixed performance, while some report good sales numbers others were facing battle.
Also checks:- Indian Stock Market Opens Weak Amid Mixed Global Cues
Domestic Economic Data:
Indians had taken a closer look at the mainstream domestic economic data like inflation Data and industrial output numbers to know the pulse of Indian economy recently. Realized recent corporate earnings reports have moved the markets.
FII Activity:
All eyes were on a crucial FII issue both in terms of inflows and outflows. The FII however, was immensely influencing the market.
Observations of the analysts:
Analysts went on saying that it was pretty much short-term trading strategies in full view of the investors who were trying to catch a hold of intraday volatility. Technical analysis was underlined as traders kept an eye on keysupport/resistance. While analysts have still advised that be cautious and wait for the fundamentals to turn yellow.
Looking Ahead:
Short-term ups and downs to come in Indian equities depending on global and domestic events.
Traders are reminded of the need for caution while taking risks in a delicate market.
It Is so very paramount to be updated on international news as well as the domestic economic data
