Tracking overnight slump in the Wall Street, the worst selloff seen since June 2020, analysts believe that the markets will remain on edge over fears of recession and concerns of a hawkish US Fed
Shares of LIC were trading at a discount of Rs 15-20 a piece over its issue price of Rs 949 in the grey market ahead of its listing on Tuesday, May 17.
US inflation data, possibility of aggressive rate hikes, record low rupee, and intense selloff by foreign portfolio investors are among the key factors that thumped stocks lower
Sensex and Nifty need to conquer 100-DMA to avoid a major sell-off. Global cues, too, need to remain supportive for the up trend to resume
CLOSING BELL: SBI, HUL, IndusInd Bank, Axis Bank, Dr Reddy's Labs, Bajaj Finserv, and ICICI Bank fell in the range of 2-3 per cent
In the last six months, the S&P BSE Sensex and the Nifty have slumped around 7 per cent each as foreign investors dumped Indian stocks across the board
The NSE Nifty Bank can rally to the 40,000-mark, after it successfully conquers its 200-DMA.
If the BSE Sensex and the NSE Nifty 50 cross their respective 100-DMAs, the benchmarks can easily rally another 2.50 per cent each.
Similarly, the Bank Nifty may shed another 7 per cent to 30,500-31,000 levels.
SpiceJet, Berger Paints and BPCL look weak on charts, while ONGC could gain another 4-8%.
Traders should opt to stay on the sidelines as this is an event-driven volatility, and wait for a decisive confirmation
Technical charts suggest the bulls are not ready to give up just yet. Markets can find support at lower levels and move up, provided the news flow does not turn too adverse
The 30-share BSE Sensex swung nearly 800 points during the session before closing at 57,996.68 -- marking a loss of 145.37 points or 0.25 per cent
The Sensex and Nifty can gain 2 per cent, while Auto and Realty indices seem poised for higher gains
As long as the underneath trend is bullish, volatility and minor dips shall be seen as opportunities to go long
Market participants are already concerned about the rapid global spread of the highly infectious Omicron Covid variant
The Indian benchmarks are set to climb higher in 2022. Though there can be intermittent corrections, the broad trend remains up. Here is how key indices are stacked up the on technical charts
The broader indices also surged over a per cent each, and gainers outnumbered losers in 2.5:1 ratio
Markets are likely to remain volatile over the next few sessions. Traders and investors should stay on the sidelines till there is clarity on the impact of Omicron variant and US Fed policy
The broader markets outperformed and managed to end with gains despite the selling pressure in frontline stocks. Debutant Go Fashion ended with a spectacular 81 per cent gain