01 Sep , 2022 By : Monika Singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Bears made a comeback on Dalal Street and pulled markets lower on weekly F&O expiry amid weak global sentiments. Benchmark indices Nifty 50 opened over 200 points lower to trade below 17,550 levels, while the S&P BSE Sensex declined over 800 points to trade at 58,734 levels. Broader markets, too, declined in tandem as Nifty Smallcap 100 and Nifty Midcap 100 slipped up to 0.5%. Except Nifty Realty, all sectoral indices dropped in negative territory. Nifty IT and Nifty Bank faced the worst brunt as both the indices dropped over 1?ch.
– A highlight of the recent market trend is India's outperformance among large markets. While the US, Europe and most large emerging markets have turned weak, the Indian market has shown surprising resilience. Since the Fed chief Powell's ultra-hawkish message last Friday the S&P 500 is down 5.8% while the Nifty is up 0.9%.
– A major factor driving this outperformance is the return of FIIs into the Indian market. It is important to appreciate the fact that the FIIs investment of Rs 4165 cr on Tuesday in the cash market is the largest buy figure in 2022. This is providing momentum to the market.
– However, investors have to exercise caution since valuations are high and the global growth environment is not favorable for a sustained bull market. Even while remaining invested, some profit booking may be a good idea.
Bharti Airtel, Bajaj Finserv, Ultratech Cement, Tata Consumer Products, HDFC Life were the top gainers, while Hindalco, Infosys, TCS, ONGC, SBI Life were the laggards.
Bharti Airtel, Bajaj Finserv, Ultratech Cement, IndusInd Bank, Asian Paints were the top Sensex gainers, while Infosys, TCS, Reliance Industries, HDFC, HBFC Bank, ICICI Bank, HCL Technologies were the top losers.
0 Comment