Indian stock markets started with a downward trend amid poor foreign signals. The Sensex is currently trading above 40,400, down by 160 points. Nifty also had a fall of fifty points and is additionally seen trading around 11880.
Sectoral Index trading with Red Markings
Talking about the sectoral index, the banking index dived again today, trading with a decline of quite 1 percent. It somehow rests on the 23200. The rest of the sectoral index is additionally trading with red markings. Auto, metal, FMCG and Realty are trading down by half to at least one percent. Currently, 15 stocks of Nifty are being bought, while the remaining 35 are under selling pressure. Selling dominates in 19 Sensex stocks, light buying is visible within the remaining 11 stocks.
U.S. Markets Condition
After a 4-day fast, the Dow Jones closed down by 158 points on Tuesday. The S & P500 fell by half a percent and therefore the Nasdaq was flat to shut. After the launch of the new iPhone 12, Apple’s stock slipped 3 percent. Talking about European markets, the all-around has closed down. Britain’s FTSE, France’s CAC40 and Germany’s DAX have weakened by almost 1%.
Yesterday, JP Morgan and Citigroup’s results were very strong. But markets didn’t get any support from this. The results of Wells Fargo, Bank of America and Goldman Sachs are going to be announced today. The market will also keep an eye fixed on this.
Foreign signs were mixed, and there was already a path of weakness in American markets. FIIs have stopped their purchases a touch. Markets are having difficulty staying at the upper levels. Today, the choice on the loan moratorium is to return to the Supreme Court. The reaction to whatever decision is formed is going to be seen within the market.
Shares Decline and Raise at Nifty
Today, shares of Wipro, Coal India, NTPC, BPCL, Power Grid, IOC, Grasim, GAIL, UPL, Tata Motors, Ultratech Cement, HDFC Life, ITC may even see a decline while Hero MotoCorp, Bharti Airtel, Tata Steel, HCL Tech, Asian Paints, Britannia, HUL shares may increase.