Tracking weak global cues, Indian equities continued to fall for the sixth consecutive day on Wednesday. Nifty ended with a cut of 0.87% at 16859, while Sensex dropped 0.89% to 56,598 points. Broader markets, however, outperformed frontline indices. Sectorally, barring auto, IT and pharma, all the indices ended in the red.
Due to poor global cues, we did not performed well but our market deprecated along with rupee against Dollor. Nifty was little bit better as compared to bank nifty. All banking stocks were under pressure. IT Sector was in demand. Fiis sold but eventually diis bought. Despite market mood was not good. European and American markets were sold off heavily, followed by our mkt too underperformed. But it's quite oversold, so one correction is expected. Hongkong market sloped from 22000 to 17000...what a drastic fall. Our market is still in a better position as compared to global markets.
Tomorrow is a expiry day, much more volatility expected... So be careful.
Signinf off for the day 💐