Today’s Action
Nifty, -2.4%; Sensex, -2%; Nifty Midcap, -4.3%; Nifty Smallcap, -5.5%; Model Portfolio, 0%
Daily Market Review
Market Pulse: Downtrend
Nifty, after a gap down opening, traded toward the day’s high of 8,575. However, it succumbed to selling pressure in the last hour of trading and erased its gains to close below 8,300. About 80% of Nifty50 stocks closed in the red.
Today’s Action
Nifty, -5.6%; Sensex, -5.6%; Nifty Midcap, -5.5%; Nifty Smallcap, -6.3%; Model Portfolio, 0%
Daily Market Review
Market Pulse: Downtrend
Nifty opened higher but selling pressure quickly grappled the markets. The index breached the low made on Friday, and is at a new three-year low. Around 90% of Nifty50 stocks ended in the red. Coronavirus cases in India increased to 147, with 10 fresh additions today.
Zee Entertainment Ents. (+23.3%) helped the Nifty Media (+0.4) to be the only index to close positive. Nifty Pvt Bank (-6.9%) and Financial Services (-6.7%) were the major decliners. Advance-Decline ratio was highly skewed toward decliners. Of 2,125 stocks traded, 273 advanced, 1,569 declined, and the remaining traded flat.
Continue reading “Daily Big Picture:A 3-year low; will Nifty survive this?”
Today’s Action
Nifty, -2.5%; Sensex, -2.6%; Nifty Midcap, -2.5%; Nifty Smallcap, -3.0%; Model Portfolio, 0%
Daily Market Review
Market Pulse: Rally Attempt
Nifty opened higher and made an intraday high of 9,403. However, in the second half, the index succumbed to selling pressure, breaching 9,000 level. The volatility index continues to rise further and is at record levels since 2008.
Brent crude fell around $2.89 to $30.9 a barrel, after last week’s plunge of 25%, which was the largest weekly fall since 2008. The US West Texas Intermediate (WTI) was trading below $30 per barrel.
Continue reading “Daily Big Picture:Yes Bank Surges 60%; Here’s market prediction today”
Weekly Action
Nifty, -9.4%; Sensex, -9.2%; Nifty Midcap, -10.8%; Nifty Smallcap, -13.2%; and Model Portfolio, -10.6%.
Market Pulse: Downtrend
Weekly Market Review
Before we discuss the historic dramatic move of today’s session, let us first reiterate how the week went.
On Monday, after floundering for most of the day, markets recovered mildly in the last hour to close with still heavy losses on higher volume. Nifty pierced August 2019 lows and made a fresh 52-week low. Brent crude price has declined sharply to less than $35 per barrel with Russia and Saudi Arabia preferring volume over value strategy.
Daily Market Review
Market Pulse : Downtrend
Nifty gapped lower and remained under heavy selling pressure through the day. After breaching 10,000, Nifty made a low of 9,509 and closed into the bottom quartile. Nifty undercut day one low of an attempted rally and made a new low. The count for an attempted rally resets. We will wait for a blue or pink rally day to consider day one of an attempted rally. The volatility index hits the highest level since 2008.
Continue reading “Daily Big Picture:Today’s share market tips, as NIFTY dips 20%”
