ANI
26 Sep 2023, 10:25 GMT+10
Mumbai (Maharashtra) [India], September 26 (ANI): In a volatile trading session, the stock market took investors on a roller-coaster ride as indices faced a downturn at the market opening on Tuesday.
As the trading day commenced, key stock indices, faced a downtick, signalling a bearish start. This initial drop in prices left investors cautious and uncertain about the day's trading prospects.
The Sensex, representing the top companies listed on the Bombay Stock Exchange (BSE), initiated the trading session on a bearish note, opening 83.43 points lower at 65,935.26.
Simultaneously, the Nifty, mirroring the National Stock Exchange's (NSE) broader market performance, commenced the day with a 16.60 point drop, starting at 19,657.95.
Throughout the trading day, market participantswill be closely watching the performance of Nifty companies.
Among these, 24 stocks registered gains, while 25 experienced declines, leaving only 1 unchanged. Eicher Motors, Tata Steel, LarsenToubro (LT), Dr Reddy's Laboratories, and UltraTech Cement emerged as the top gainers.
Conversely, Apollo Hospitals, Asian Paints, Tata Consultancy Services (TCS), Tech Mahindra, and Infosys grappled with losses.
Varun Aggarwal, the founder and managing director of Profit Idea, shared his insights on the market's direction. Aggarwal noted, "Open Interest (OI) data suggests the market may consolidate for some more time, with heavy put writing at 19,500 and call writing at 20,000 Nifty levels."He further added, "The index is looking to stabilize this week and possibly can rise higher. Investors should not worry too much about looking at broader data. Nifty looks good with this healthy correction. This is good for markets in the medium to long term. Higher targets stay intact, with expected levels of 20,466, 21,234, and 21,410 on Nifty."Aggarwal also highlighted the potential of small and mid-cap stocks, stating, "Small and mid-cap stocks have huge potential even from current levels. IT, Media, Metal, Petrochemicals, and Banks look good for the medium term."As investors brace themselves for further market movements this week, the stock market continues to be influenced by a variety of factors, both domestic and global, that contribute to its inherent volatility. (ANI)Get a daily dose of Professional Autos news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.
More InformationREDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
Pyongyang sent troops to help repel Ukrainian invasion in western Russia Russian Foreign Minister Sergey Lavrov began his three-day...
DAZHOU, July 12 (Xinhua) -- The main body of a bridge of Xi'an-Chongqing high-speed railway over an expressway linking Yingshan and...
Tirumala (Andhra Pradesh) [India], July 12 (ANI): Union Minister of State for Home Affairs Bandi Sanjay Kumar raised strong objections...
Peshawar [Pakistan], July 12 (ANI): A recent report by the Provincial Inspection Team has shed light on the government's failures in...
Tel Aviv [Israel], July 12 (ANI): Gaza has become the graveyard of children and starving people, UNRWA chief Philippe Lazzarini said,...
In one of his most bellicose and provocative remarks as Russias war against Ukraine rages on, President Vladimir Putin said late last...