Today Markets remained under pressure and lost nearly one and a half percent amid the prevailing corrective phase. After the flat start, the Nifty travelled only downside whole the day.
As Nifty has seen selling pressure in the second half of the session. On the chart, the index has slipped below the 17000 marks.
Nifty index gradually drifted lower as the session progressed and slipped below the support of 17,100 levels to finally settle around the day’s low at 16,983.55 levels down by 257.45 points.
Domestic Market is Affected by:
Domestic market benchmarks continued reeling under pressure considering weak global cues amid concerns over rate hikes, recession, and the Ukraine war.
Investors are becoming risk-averse due to rising geopolitical turmoil as well as worries about the global economic slump. Investors’ caution ahead of the announcement of inflation data prevented a better-than-expected start to IT earnings from improving the market mood.
Gainers & Losers
Divis Labs, IndusInd Bank, Nestle India, JSW Steel and Eicher Motors were among the top Nifty losers.
Axis Bank, Adani Enterprises and Asian Paints were the top nifty gainers.
All the indices ended in the red with Realty, IT, Metal, FMCG and Consumer Durables tanking the most. Bank remained the only index to shed less than a per cent.