Stock market today: On Friday, the Indian stock market's benchmark equity indices, the Sensex and Nifty, fell for the second consecutive day. The indices fell as a result of profit-taking amid mixed earnings and a cautious global outlook.
Stock market today: On Friday, October 31, the benchmark equity indices of the Indian stock market, the Sensex and Nifty, fell for the second consecutive day. The indices nevertheless had their highest monthly increases in seven months, dating back to March.The Nifty 50 ended the day at 25,722, down 155.75 points, or 0.60%, while the Sensex down 465.75 points, or 0.55%, to conclude at 83,938.71. The indices fell as a result of profit-taking amid mixed earnings and a cautious global outlook. The 30-pack Sensex increased 4.6% for the month, while the Nifty 50, its NSE counterpart, increased 4.5%.
The BSE Smallcap index lost 0.40% and the BSE Midcap index fell 0.55%, reflecting a downturn in the overall markets.
Ten salient features of the Indian stock market are as follows:
What caused the stock market in India to decline?
The BSE Smallcap index lost 0.40% and the BSE Midcap index fell 0.55%, reflecting a downturn in the overall markets.
Ten salient features of the Indian stock market are as follows:
What caused the stock market in India to decline?
As investors booked profits despite mixed corporate earnings and cautious global mood against the backdrop of a strong greenback, Indian equities closed a tumultuous day decisively lower, according to Vinod Nair, Head of Research at Geojit Investments.
Due to pressure from increased FII selling, which has become cautious following Powell's hawkish remarks and the US-China trade progress falling short of expectations, the majority of sectors closed down, the analyst stated.
When a significant portion of the economic developments are taken into account, the markets are in a profit-booking phase following a robust advance. As long as confidence is strong on a QoQ basis, buying on dips is anticipated to be a viable trading strategy," he stated.
Due to pressure from increased FII selling, which has become cautious following Powell's hawkish remarks and the US-China trade progress falling short of expectations, the majority of sectors closed down, the analyst stated.
When a significant portion of the economic developments are taken into account, the markets are in a profit-booking phase following a robust advance. As long as confidence is strong on a QoQ basis, buying on dips is anticipated to be a viable trading strategy," he stated.
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