Dalal street witnessed one of the most dreadful days in recent years as Nifty index intraday movement was over 450 points on Friday ‘s session and it breached its crucial support levels of 11171 zones to closed negative for the fourth consecutive session. BankNifty index crashed over 700 points as many NBFCs and banking stocks witnessed panic selling due to bond repayment issue. Midcap and Smallcap indices saw the sharp correction of over 3% each. On the sectoral front, except Oil & Gas counters all other indices ended in red territory and India VIX spike more than 10 % providing the upper hand to the Bears. On the global front, U.S ended on a flat note while European indices gained nearly 1%. On the domestic front, F&O expiry rollover, global trade war, bond repayment fiasco and Fed meeting outcome likely to add volatility in the market going ahead.
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