Freaky Friday! Sensex, Nifty fall 1% as heavyweight stocks crack
Analysts attribute this fall to pre-Lok Sabha election outcome jitters, earnings season, and a high level of margin trading
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Analysts attribute this fall to pre-Lok Sabha election outcome jitters, earnings season, and a high level of margin trading
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“In 2023, gold demonstrated remarkable returns, outperforming expectations and serving as a strong asset for investors amid economic uncertainties and market fluctuations.”
Germany's Dax was the top performer in the developed markets with 13.3% returns followed by Nasdaq 100 with 10.67% returns. The S&P 500 and Dow gave returns of around 9%. The rest gave returns between 6.40% and 8.52%.
Rupak De, Senior Technical analyst at LKP Securities said the mood will remain upbeat as long as the Nifty stays above 20,000 and will weaken only if there's a drop below 20,000. In his view, the Put writers will defend this level. For traders, a buy-on-dips strategy is recommended, he said, estimating the resistance at Rs 20,200-20,230. If this level is breached, the index could potentially move towards 20,450-20,500, De opines.