Investors predicted that the Nifty would surpass 20,000 on the final trading day of the week. But the reverse took place. Today’s market opening saw a 600 point decline. After a while, things started to get better, but by afternoon, things were becoming worse. The Sensex dropped by 800 points. The Sensex had dropped 1012 points and was trading at 66,599 at 3:15 p.m. Nifty was down 263 points and trading at 19, 175.17 at the same time.
The IT business Infosys’s quarterly results were released yesterday. The company’s performance in the June quarter fell short of expectations. This caused the stock to decline by more than 9% today. The worst-performing stock on Friday is Nifty IT. On the other hand, the Nifty Media investors are now very wealthy.
The sharp decline in the shares of IT companies has caused a market earthquake. Over 800 points have been lost on the Sensex today. It is currently down 833 points and trading at the level of 66768, while the Nifty is down 215 points and trading at the level of 19759. Nifty’s top losers Infosys (8.11%), HCA’s Tech (3.42%), Reliance (3.35%), Hindustan Unilever (3%) and Wipro (2.33%) are trading at a loss.
The market’s velocity was slowed down today. The 30-sensitive index sensex opened at 66,907,07, a decline of more than 600 points. It quickly dropped 689.83 points to 66, 882.07 shortly after that. The National Stock Exchange’s Nifty opened at 19, 800.45 at the same moment. Around 9.20 in the morning, it was trading at 19,813.10 with a loss of 166.05 points.
The shares of Infosys have experienced the most fall in the Sensex today. In early trading today, firm shares fell by more than 8%. Heavyweight companies like Wipro and TCS saw their shares trade lower by more than 1%. The shares of SBI, Kotak Mahindra Bank, Axis, and Tata Motors, on the other hand, have seen a rise.
The benchmark Sensex on the BSE increased by 474.46 points, or 0.71%, to settle at a new record high of 67,571.90. During trading, it also hit an all-time high of 67, 619.17 points. The NSE Nifty has been perilously close to reaching the psychological mark of 20,000. The Nifty closed at 19,979.15 points, a new record high, up 146 points or 0.74 percent. During the day, it also reached a record high of 19,991.85.
Due to capital inflows from international institutional investors and stock purchases by banks and businesses that produce everyday items, the local stock markets continued to rise for a sixth straight trading session on Thursday, and both major indices set new records. The rise of the rupee against the US dollar, according to traders, also contributed to the upbeat mood.
LTP CALCULATOR ANTICIPATION FOR THE NEXT WEEKLY RANGE OF NIFTY
The LTP Calculator has forecasted the Nifty weekly range for the upcoming week. Since the LTP Calculator Option Chain suggests that the Nifty’s weekly range resistance is 20187 and its weekly range support is 19,771, investors should be mindful of these factors.
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