Stock Market LIVE: Sharp Fall in both the Stock Indices; Sensex below 52400 Points
Selling pressure on the market is building again. Both the indices have a sharp downward trend. Sensex is trading below 52,400. Nifty has come near 15,700 points. Nifty Mid Cap Index is down around 0.40%. The Small Cap Index has a strength of around 0.40%.
The market is getting support from strong buying in auto stocks. The metal and realty indices of Nifty are also strong. The market is under pressure due to Nifty IT. In this and the energy index, there is a fall of about half a per cent. There is also selling pressure on the Financial Services Index.
The market is getting support from buying in giants like M&M, Bajaj Auto, Tata Motors, Hero MotoCorp, Kotak Bank, ICICI Bank and Asian Paints. It is under pressure due to selling in UltraTech Cement, Shree Cement, IndusInd Bank, BPCL, HCL Tech, Infosys, Tech Mahindra.
Sensex Opened with Gain
Domestic stock markets gave a strong start today amid mixed trends in the global market. The 30-share Sensex of BSE opened at 52,638 points with a gain of 156 points. NSE's 50-share Nifty opened 35 points higher at 15,755.
Markets opened strongly on Wednesday
The stock markets opened strongly on Wednesday, but their entire gains were wiped out in the afternoon session. At the close of trading, the Sensex closed at 52,483 points with a weakness of 67 points, or 0.13%. Nifty closed at 15,721 points with a weakness of 27 points or 0.17%. Nifty's mid-cap was up 0.26% and the small-cap index was up 0.22%.
The Volatility Index India VIX had a jump of 1.1% in the beginning today. This bounce tells how weak the Nifty could be on a yearly basis over the next 30 days. According to the slight jump in this index, the market may continue to rise. A rise from the lower levels is an indication of increasing movement with the market remaining firm. It had lost 3% on Wednesday.
FII and DII data
According to provisional data available on the NSE, on Friday 30 June, foreign institutional investors (FIIs) sold shares worth a net Rs 1646 crore. That is, he had sold shares worth so much more than the number of shares he had bought. Domestic institutional investors (DIIs) had bought shares worth a net Rs 1,520 crore.
Weakness in Asian markets
There is selling pressure in the major stock markets of Asia. Japan's Nikkei index is down about 0.40%. China's Shanghai Composite is down about 0.10%. Korea's Kospi and Australia's All Ordinary are trading with a weakness of around 0.40%.
Mixed trends in the US
US markets remained firm on Wednesday. The Dow Jones closed up 0.61%. The Nasdaq fell 0.17%. The S&P 500 also gained 0.21%. There was heavy selling in European markets. Britain's FTSE gained 0.71%, Germany's DAX gained 1.02% and CAC gained 0.91%.
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