Indian equities had a bitty day of trading in Today Stock Market which the Nifty 50 experienced some jitters globally and also multiple sector-specific movements across domestic stocks today. Both some sectors were able to handle, others had selling pressure which clearly indicated market’s caution. Similarly, cryptocurrency market had its own oscillations due to regulatory news and overall sentiment in the integrated forces.
Indian Stock Market Overview:
Initially the NIFTY 50 started on a Positive foot but then came under pressure the rest of the day. We saw a mixed performance across the sector with IT and FMCG stocks being the relative leaders on back of strong earnings reports, and confidence from investors.
This was as expected however the banking and financial services sector suffered due to asset quality concerns along evolving regulators. On the other hand, we saw selective buying at NIFTY mid-cap and small-cap level where the investors were looking fundamentally strong stocks.
Also Check:- Nifty 50 Swings Amid Volatile Trading Session; Global Cues Impact Market
What Moves the Markets
Global economic uncertainty: Worries that US/ Europe interest rates may rise and volatile commodity prices has kept market volatile.
Domestic Economic Data: investors kept an eye on domestic economic data such as inflation numbers and industrial production to ascertain the condition of Indian economy.
Earnings: The stock market’s beating certainly continued to headline, with stock prices often whipsawing on the results of specific companies in this ongoing earnings season.
FII Activity: yet again the FII flows were the most important determinate of the market action with sentiment swings in global markets translating into movements on home turf.
