Sensex falls over 2,100 points intra day: How to approach the market going ahead
Investor wealth fell by over Rs 6 lakh crore after BSE market cap plunged to Rs 200.12 lakh crore intra day
Aseem Thapliyal | February 26, 2021 | Updated 16:32 IST
Global markets fell after rising bond yields triggered a broad sell-off on Wall Street. Nasdaq fell 3.5% on Thursday while the S&P 500 dropped 2.4%, led lower by heavy selling in technology and communications companies.
Sensex crashed over 2,100 points in afternoon trade today after sell-off in global markets intensified with US carrying out air strikes in Syria. While Sensex tanked 2,149 points intra day to 48,890, Nifty lost 630 points to 14,467. Investor wealth fell by over Rs 6 lakh crore after BSE market cap plunged to Rs 200.12 lakh crore intra day.
The BSE Sensex closed down by 434 points at 50,889.76 and Nifty-50 dipped 137 points, or 0.91 per cent to 14,981.75. , , sensex, Stock Market Daily Updates
As the stock markets correct from record high levels, further decline may well be in the waiting with bond yields surging globally.Analysts are of the view that global bond yields may go northwards till the end of 2021, which may lead to a .
Nifty at a high, but only 11 stocks are at record levels: A warning or an opportunity?
On February 8, the Nifty for the first time closed above 15,000 and 11 stocks, including names like Adani Ports, Bajaj Auto, & Bajaj Finance, have hit their lifetime highs. February 12, 2021 / 09:43 AM IST
The Nifty50 hit the magical 15,000-mark early this month and hit a fresh record high of 15,257 on February 9 but only 11 stocks in the index have reached their record highs, so far, in the month.
It should not come as a surprise as most stocks are still playing catch up. The 11 stocks that hit their lifetime highs include Adani Ports, Bajaj Auto, Bajaj Finance, Bajaj Finserv, Cipla, HDFC Bank, SBI and UltraTech Cement, data from AceEquity shows
Synopsis
India VIX moved up 1.28% from 23.12 to 23.41 level. Now, VIX needs to cool down and hold below 20 zone for continuation of the ongoing momentum with a higher market base.
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Signs of fatigue are visible, especially on the daily charts where Nifty formed an indecisive candle on Friday.
NEW DELHI: Nifty formed an indecisive Doji kind of candle formation on the daily scale and a long bullish candle on the weekly chart on Friday.
“15,000 has proved to be a psychological resistance but that should not deter the thought process on the trend. We continue to remain bullish and the Nifty has the wings to achieve 15,200. A buy on dips strategy would be advisable,” said Manish Hathiramani, technical analyst at Deen Dayal Investments.