Widespread selling dragged the benchmark Sensex and Nifty 50 on Thursday, tracking weak global cues as sentiment soured after US inflation hit a four-decade high. Domestically, selling pressure was witnessed across all broader markets and sectoral indices. Both Sensex and Nifty 50 closed with a fall of more than 2 per cent. Since the beginning of this month, the market has been declining continuously, as investors are suffering huge losses due to various reasons. Over the past five trading sessions, investors have become poorer by almost 18.75 lakh crore on Dalal Street alone.
The Sensex closed at 52,930.31, down 1158.08 points or 2.14% today. Other than Wipro shares IndusInd Bank, HDFC Twins, Bajaj Twins, Tata Steel, Axis Bank, Titan and L&T listed on this benchmark were in the red with top underperformers.
On BSE, the broader markets fell between 2% and 3% in just one day. All sectoral indices also lost 1% to 4.5%. Banking stocks were the top bearers, while consumer durables, metals, capital goods and auto stocks also posted free fall.
In the last five trading sessions from May 6 to May 12, investors’ wealth has been wiped out on the BSE.
The last time the markets were in the green was on May 5. Notably, this is the only day the markets looked green, with the remaining bears taking control so far in May.
The market cap of BSE is at 2,40,90,199.39 crore after today’s closing price of Sensex. it has declined 18,74,689.98 crore from 2,59,64,889.37 crore on May 5.
The Sensex has also lost 2,771.92 points from May 5 to May 12. Overall, the benchmark fell over 5% in the past five sessions. Meanwhile, Nifty 50 fell around 875 points or 5.5% these days.
Nifty 50 today closed at 15,808, down 359.10 points or 2.22%.
Ajit Mishra, VP – Research, Religare Broking said, “The market declined sharply and declined over 2% under pressure from weak global cues. US inflation data, which hit a 4-decade high, showed Influenced sentiment across the globe including India. The benchmark opened a gap and went down gradually as the day progressed. Finally, the Nifty index ended at 15,808; down 2.2%. Selling pressure was widespread and all sectoral indices The broader indices also lost around 2% each.”
Vinod Nair, Head of Research, Geojit Financial Services, said, “The release of higher-than-expected US CPI data yesterday suggests that inflationary pressures will persist in the near term. However, it is believed to be peaking and slowing down. – Will decline gradually – Lines with the ongoing fall in crude oil and other commodity prices and a slowdown in the economy. The Fed stuns the market by limiting liquidity, which limits further shocks in the future. We can expect that the market may stabilize as FIIs may reduce sales factoring inflation and Fed policy”
In his technical review, Rupak Dey, Senior Technical Analyst, LKP Securities, said, “Nifty continues its downward journey as the benchmark index closed sharply in the red for the day. However, Nifty continues to trade against the previous swing at daily levels. Lower level has been reached. Chart. Market may bounce back if Nifty manages to stay above previous swing low of 15671. Failure to sustain above 15650 may trigger another correction on the other side”
For tomorrow’s trade, Ajit said, “Markets will first react on the Macro-Economic Debt Results (IIP and CPI) in early trade on Friday. This data is crucial ahead of the next MPC meeting, which is scheduled in June.” Further, the performance of global markets will also be in focus. We recommend Nifty to maintain a bearish trend till it decisively crosses 16,100 zones. On the downside, a breakdown below 15,650 to 15,400 The participants should align positions according to the trend. And focus more on position management.”
India’s consumer price index (CPI) inflation soared to an eight-year high of 7.79% in April – surpassing the RBI’s upper target of 6% for the fourth month in a row.
Investors poor around ₹18.75 lakh crore in 5 trading sessions. what will happen next
Widespread selling dragged the benchmark Sensex and Nifty 50 on Thursday, tracking weak global cues as sentiment soured after US inflation hit a four-decade high. Domestically, selling pressure was witnessed across all broader markets and sectoral indices. Both Sensex and Nifty 50 closed with a fall of more than 2 per cent. Since the beginning of this month, the market has been declining continuously, as investors are suffering huge losses due to various reasons. Over the past five trading sessions, investors have become poorer by almost 18.75 lakh crore on Dalal Street alone.
The Sensex closed at 52,930.31, down 1158.08 points or 2.14% today. Other than Wipro shares IndusInd Bank, HDFC Twins, Bajaj Twins, Tata Steel, Axis Bank, Titan and L&T listed on this benchmark were in the red with top underperformers.
On BSE, the broader markets fell between 2% and 3% in just one day. All sectoral indices also lost 1% to 4.5%. Banking stocks were the top bearers, while consumer durables, metals, capital goods and auto stocks also posted free fall.
In the last five trading sessions from May 6 to May 12, investors’ wealth has been wiped out on the BSE.
The last time the markets were in the green was on May 5. Notably, this is the only day the markets looked green, with the remaining bears taking control so far in May.
The market cap of BSE is at 2,40,90,199.39 crore after today’s closing price of Sensex. it has declined 18,74,689.98 crore from 2,59,64,889.37 crore on May 5.
The Sensex has also lost 2,771.92 points from May 5 to May 12. Overall, the benchmark fell over 5% in the past five sessions. Meanwhile, Nifty 50 fell around 875 points or 5.5% these days.
Nifty 50 today closed at 15,808, down 359.10 points or 2.22%.
Ajit Mishra, VP – Research, Religare Broking said, “The market declined sharply and declined over 2% under pressure from weak global cues. US inflation data, which hit a 4-decade high, showed Influenced sentiment across the globe including India. The benchmark opened a gap and went down gradually as the day progressed. Finally, the Nifty index ended at 15,808; down 2.2%. Selling pressure was widespread and all sectoral indices The broader indices also lost around 2% each.”
Vinod Nair, Head of Research, Geojit Financial Services, said, “The release of higher-than-expected US CPI data yesterday suggests that inflationary pressures will persist in the near term. However, it is believed to be peaking and slowing down. – Will decline gradually – Lines with the ongoing fall in crude oil and other commodity prices and a slowdown in the economy. The Fed stuns the market by limiting liquidity, which limits further shocks in the future. We can expect that the market may stabilize as FIIs may reduce sales factoring inflation and Fed policy”
In his technical review, Rupak Dey, Senior Technical Analyst, LKP Securities, said, “Nifty continues its downward journey as the benchmark index closed sharply in the red for the day. However, Nifty continues to trade against the previous swing at daily levels. Lower level has been reached. Chart. Market may bounce back if Nifty manages to stay above previous swing low of 15671. Failure to sustain above 15650 may trigger another correction on the other side”
For tomorrow’s trade, Ajit said, “Markets will first react on the Macro-Economic Debt Results (IIP and CPI) in early trade on Friday. This data is crucial ahead of the next MPC meeting, which is scheduled in June.” Further, the performance of global markets will also be in focus. We recommend Nifty to maintain a bearish trend till it decisively crosses 16,100 zones. On the downside, a breakdown below 15,650 to 15,400 The participants should align positions according to the trend. And focus more on position management.”
India’s consumer price index (CPI) inflation soared to an eight-year high of 7.79% in April – surpassing the RBI’s upper target of 6% for the fourth month in a row.
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