The Sensex and therefore the Nifty have also started sluggishly amid weak global cues. The Sensex is seeing a decline of around 74 points. Along with side heavyweight stocks, midcap stocks also are getting sluggish. The midcap index of the BSE was trading at a modest gain of 0.05 percent. Small-cap stocks are also seen as sluggish. The BSE Smallcap Index is trading at a modest gain of 0.05 percent. Oil and gas stocks also see weakness today. The BSE’s oil and gas index is trading at a weakness of 0.32 percent. The FTSE 30-share Sensex is currently trading at around 40,530 with a weakness of around 90 points, ie 0.23 percent. NSE Nifty, the NSE’s 50-share major index, is trading around 11,910 with a weakness of about 24 points i.e. 0.20 percent.
40 Stocks of Nifty are Down
The market decline has increased. All indices except durables have fallen. Metal and power shares are seen selling. Banking, IT and oil-gas stocks are struggling. After the results, there’s an enormous sell-off at Wipro. 40 out of fifty nifty stocks are down. 22 out of 30 stocks in Sensex are down. All 12 stocks of Nifty Bank are in decline.
US, Asia and SGX NIFTY are under Pressure
US, Asia and SGX NIFTY are under pressure. A 4-day rally in U.S. markets has come to a standstill due to uncertainty over relief packages and vaccines. On the other hand, SGX NIFTY, which has seen a weak start in Asia, is additionally seeing quite 1 / 4 percent pressure. Looking at the decline in U.S. markets, the Dow fell 158 points to shut at 28680 levels in yesterday’s trade. The S&P 500 index closed 22 points down at 3512, while the Nasdaq slipped 12 points to finish at 11864.
Asian Markets are also seeing Weakness
Today Asian markets are also seeing weakness. SGX NIFTY is seen below 60 points. At the equivalent time, the Nikkei is seen at around 23,560 with a weakness of 0.16 percent. The Strait Times also sees a weakness of 0.39 percent. However, the Taiwan market is trading at 12,922.16 levels, down 0.20 percent. Meanwhile, Hangseng is seen at a 24,503.10 level with a weakness of 0.60 percent. At an equivalent time, Kospi is seeing a weakness of 0.81 percent. The Shanghai Composite also showed a decline of 0.26 percent at 3,351.08.
Wipro’s Second-Quarter Result
Wipro’s second-quarter results were better than anticipated. The company’s dollar revenue grew by 3.7 percent. Gives guidance of 1.5 to 3.5 percent growth for Q3. A share buyback of Rs 9500 crore has also been announced at a price of Rs 400. On the other hand, INFOSYS will present second-quarter results today. The corporation is predicted to grow in dollar revenue, profits and margins. Corporations can also increase guidance for FY21. Today the results of TATA ELXSI also will be awaited.