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Stock Market Highlights: Sensex Tanks 927 pts to Close at 3-Week Low
The BSE Sensex fell for the fourth straight day, dropping 927.74 points (1.53%) to close at 59,744.98, its lowest level since February 1.
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Stock Market Updates: Markets Close in Red
The Sensex pack's main laggards included Tata Steel, Bajaj Finance, Bajaj Finserv, Reliance Industries, Wipro, HDFC Bank, and ICICI Bank.
In the Sensex pack, ITC was the lone winner.Stock Market Updates: Markets Close in Red
Sensex plunged by 927 points to close at a three-week low while the broader Nifty settled at a four-month low
Stock Market Live Updates: Sensex Tanks 794 Points
At 2.51pm BSE Sensex was trading 794 points or 1.31 percent lower at 59,879.57 while the NSE Nifty was down by 238.45 points or 1.34 percent to 17,588.25
"We expect copper to trade higher towards 795 levels, a break of which could prompt the price to move higher to 806 levels," Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd said on BASE METALS Outlook.
"Most industrial metals on Tuesday ended on a higher note, except for Lead and MCX Aluminium and Zinc, ending on a lower note," Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd said on BASE METALS.
"We expect crude to trade lower towards 6270 levels, a break of which could prompt the price to move lower to 6160 levels," Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd said on Crude Outlook.
"Post the long holiday weekend, the benchmark crude index NYMEX began the week on a lower note, joining hands with another benchmark index, Brent, which ended 0.15 percent lower.," Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd said on CRUDE.
"Given the dollar's continued strength and the likelihood that the US Fed will continue raising interest rates, the upside potential for the yellow metal appears to be limited," Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd said on GOLD Outlook.
"Gold prices on Tuesday slipped lower, as it lost 0.37 percent and concluded at 1834.3 per ounce," Prathamesh Mallya, AVP- Research, Non-Agri Commodities, and Currencies, Angel One Ltd said on GOLD.
According to exchange data, foreign institutional investors (FIIs) became net buyers in the capital markets on Tuesday by purchasing shares worth Rs 525.80 crore
The 30-share BSE Sensex was down 279.41 points, or 0.46 percent, to 60,393.31 on the domestic equity market. The NSE Nifty index as a whole dropped 86.55 points or 0.49 percent to 17,740.15
The international oil benchmark, Brent crude futures, increased marginally by 0.06 percent to USD 83.10 a barrel
The rupee's value versus the dollar was fixed at 82.79 in the previous session on Tuesday
The native currency's opening rate versus the dollar at the interbank foreign exchange was steady at 82.79
Sluggish trend in local equities caused the rupee to weaken 4 paise to 82.83 against the USD
New Delhi: Markets closed in red on Wednesday with the broader Nifty closing at a four-month low. The benchmark Sensex fell 927 points to close at a three-week low amid negative global trends as investors awaited the release of the Federal Open Market Committee minutes later in the day.
The BSE Sensex fell for the fourth straight day, dropping 927.74 points (1.53%) to close at 59,744.98, its lowest level since February 1. It fell by 991.17 points or 1.63 percent over the day to 59,681.55. The 50-issue NSE Nifty lost 272.40 points, or 1.53%, to close at 17,554.30, a four-month low. 47 of its members also recorded negative closing prices.
"Now all eyes would be on how markets react on the F&O expiry day, whether we see a follow-up sell-off or there's some respite at lower levels. In our sense, the hourly charts are a bit oversold, and creating short positions from current levels may turn out to be risky. Also at the lower end, we see a strong zone of support around 17350 - 17400 which coincides with the budget session low and 200SMA; as of now, we sense prices to defend this zone. Aggressive traders can opt for buying in this zone if there's further weakness in the morning session. On the flip side, previous support around 17700 - 17750 is likely to act as immediate resistance. With global uncertainty, volatility is likely to remain on the higher side and hence traders are advised to keep a tab on the mentioned levels and trade accordingly on the expiry day," said Rajesh Bhosale, Technical Analyst, Angel One Ltd.