Extending its sell-off for the third straight session, equity benchmark Sensex tumbled 568 points on Tuesday as investors scrambled to sell riskier assets ahead of RBI’s policy decision. The 30-share BSE Sensex closed 1% lower at 55,107. NSE Nifty lost 153 points to close at 16,416.
The situation on Dalal Street worsened on faltering global markets, frequent foreign fund outflows and the rupee depreciating to record lows against the US dollar. In the broader market, the BSE Midcap gauge lost 0.77% and the Smallcap index lost 0.67%. meanwhile, Rupee On Tuesday, it lost 7 paise to close at an all-time low of 77.73 against the US dollar.
The Reserve Bank of India (RBI) will announce its monetary policy decision on Wednesday amid expectations of another hike in the benchmark interest rate to control inflation that remains above the central bank’s upper tolerance level.
for day trading guide stock market today
,The short term trend of Nifty remains negative. Formation of small negative candles with low shadow on the downside and placement of significant supports, Nifty may expect to see a permanent bounce back from lows of 16,300-16,250 in the next 1-2 sessions,” said Nagaraj Shetty, Technical Research Analyst Said HDFC Securities.
stock to buy Today as recommended by analysts –
Mehul Kothari, AVP – Technical Research at Anand Rathi
Hero Moto: Buy Heromotoko, Stop Loss 2,450, Target 2,800
HAL: HAL buy, stop loss 1,860, target 1,950
Sumeet Bagdia, Executive Director, Choice Broking
TVS Motor: Buy TVS Motor, Stop Loss 715, Target 770-780
Gail: Buy Gail, Stop Loss 146, target 156-160
Avinash Gorakshakar, Head of Research at Profitmart
TVS Motor: Buy TVS Motor, Stop Loss 720, target 790
Gail: Buy Gail, Stop Loss 147, target 160
DisclaimerThe views and recommendations given above are those of individual analysts or broking companies and not of Mint.