Market Reality
India's equity markets, long buoyed by strong economic growth and rising corporate earnings, are now facing a sharp and prolonged correction.
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.
At close, Sensex was down 199 points or 0.3 per cent at 75,939, and the Nifty was down 102 points or 0.4 per cent at 22,929. About 642 shares advanced, 3,200 shares declined, and 73 shares were unchanged.
At 10 a.m., the 30-scrip sensitive index traded at 60,690.03 points, down 453.30 points or 0.74 percent.
On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at lower note at 18,602.35 points.
NTPC was the top gainer in the Sensex pack, rising around 4 per cent, followed by Bajaj Finserv, SBI, Bajaj Finance, Tech Mahindra, Dr Reddy's
During the week, the Sensex rallied 1,032.58 points or 1.74 per cent, while the Nifty surged 268.05 points or 1.52 per cent.
"The market is growing due to excess liquidity and a low-interest rate regime. Investors also felt relieved by the Federal Reserve's stance on withdrawing stimulus and raising interest rates," said Ashish Biswas, Head of Technical Research, CapitalVia Global Research
