NIFTY 50 plunge over 420 points in last two consecutive trading sessions.
After a long weekend with tons of surprises, bulls remain cautious in Indian markets. NIFTY 50 settles at 8108.45 with the intraday loss of 2.26%. TATAMOTORS declined close to 10% in today session due to ongoing conflicts at the administration levels. Although the Global markets were marginally positive but failed to rescue the domestic market sentiment.
Stock Market Insights from 15th Nov 2016
- The equity market turnover is Rs.32, 450 Cr as compared to its average turnover of Rs. 16,000 Cr.
- Cement segment continue to witness selling pressure in today session. SREECEM, ULTRACEMCO, ACC and INDIACEM are the notable losers. ACC continue to fall further due to unwind pressure and Support seen around 1280 – 1300 zone.
- INR weakness is backed by FII selling in Indian markets as well as rupee demonetization impact. This was viewed positive from the IT sector. Volume surged in IT major WIPRO and TCS. Candlestick pattern “Morning Star” seen at TCS
- PSU bank managed to climb higher levels despite of market weakness. But stock specific selling pressure noticed in some other banking stocks.
- FIIs’ were Net seller for over Rs.2500 crores (Provisional) in Indian equity market on Nov 15, 2016
- FII were continued to add short position in stock futures which was taken by retail segment. Meanwhile the MARUTI, HDFCBANK and ICICIBANK are added open interest along with fall in price, indicates Fresh short position.