Market ends with no change in muted session
At close, Sensex was up 10.31 points or 0.01% at 74,612.43, and the Nifty was down 2.50 points or 0.01% at 22,545.05.
At close, Sensex was up 10.31 points or 0.01% at 74,612.43, and the Nifty was down 2.50 points or 0.01% at 22,545.05.
India's equity markets, long buoyed by strong economic growth and rising corporate earnings, are now facing a sharp and prolonged correction.
The stock market extended the losses to the fourth session on Wednesday and ended marginally lower in the highly volatile session. At close, the Sensex was down 28.21 points or 0.04% at 75,939.18, andthe Nifty was down 12.40 points or 0.05% at 22,932.90.
On the losing side were Indusind Bank (2.30%), Trent (1.94%), Ultratech Cement (1.58%), Bharat Electronics (1.57%), and Mahindra & Mahindra (1.48%).
At close, the Sensex was up 57.65 points or 0.08% at 75,996.86, and the Nifty was up 30.25 points or 0.13% at 22,959.50.
“Investors have time, even now, to switch from small-caps to fairly valued large-caps and partly to fixed income products. At this stage in the market, safety should be given priority over return," he said.
Sensex was down 195.16 points or 0.26 per cent at 73,677.13 while the Nifty was down 49.30 points or 0.22 per cent at 22,356.30.
Tata Motors board approved the proposal to demerge the company into two separate listed entities, viz a) CV and its related investments and b) PV, including India PV, EV, JLR, and related investments.
It was a wild, volatile and eventful week which got extended into Saturday as well. Expiry happened on February 29, which was a leap day and till that event was over, markets were trading in negative territory for the week.
The massive 350-point rally in the Nifty on Friday was primarily driven by the far better-than-expected Q3 GDP numbers which came at 8.4 per cent year on year, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
