look news india
Stock Market Closing: Due to heavy selling in the stock market today, Sensex and Nifty ended the week with a huge fall. Sensex closed 793.25 points down at 74244.90 and Nifty50 closed 234.40 points down at 22519.40. Along with this, investors' capital is Rs. There has been a decrease of Rs 2.51 lakh crore.
Only 3 out of 30 Sensex stocks improved. The remaining 27 shares declined by up to 4 percent. Out of total 3943 shares traded on BSE, 1466 shares closed in the green zone and 2373 in the red zone. Fourth quarter corporate results season has begun. The country's top IT company will release its results this evening. Investors' focus will now be on corporate results.
Signal of correction in the market
Almost all sector indices in the stock market have reached record highs. Looking at today's trending situation, there is overbought in the market, hence a correction is being indicated. Midcap and smallcap fell by 0.6 percent due to increased profit booking. Apart from this, indices including Nifty Pharma, PSU Bank, FMCG also remained closed.
Treasury yields hit five-month high
The US dollar and 10-year Treasury yields hit five-year highs today. The reason behind the increase is the optimism about the delay in reducing interest rates by the Federal Reserve. Investors are pointing to the possibility that the Fed will not cut rates anymore as US inflation data remains high.
Support surface for Nifty is 22101
Market experts have identified 22339-22101 as extremely important support levels for Nifty50. While its resistance level is set at 22810-23100. There is a positive trend for the stock market domestically, but global challenges are increasing. Whose effect can be seen on the stock market.