Market Trend: Consolidation has been seen in the market before the US Fed meeting. The Sensex and Nifty are closed with a decline. Midcap and smallcap shares have seen pressure. IT, PSE and metal stocks have seen pressure. Pharma, realty and energy index have closed down. Auto and Nifty Banks have closed with an edge. The Nifty fell 41 points to close at 24,812. The Sensex fell 139 points to close at 81,445. The Nifty Bank climbed 115 points to close at 55,829. The midcap index fell 270 points to close at 58,109.
Today, 36 of the 50 shares of Nifty declined. At the same time, 20 out of 30 shares of Sensex fell. 6 out of 12 shares of Nifty Bank increased. The rupee has been weakened by 24 paise to close at Rs 86.48 per dollar today against the doll.
Bonanza Research Analyst Vaibhav Vidwani The Indian stock markets shut down today. The Sensex fell 138 points (0.17%) to 81,444 and the Nifty fell 41 points (0.17%) to close at 24,812. Constant global problems and geopolitical tensions have spoiled the mood of investors. The growing struggle in the Middle East, especially the Israel-Iran war, stressed global markets and Brent crude prices rose above $ 76. This has increased concerns about inflation and input costs for Indian companies. Investors seem cautious before the US Federal Reserve’s decision. They do not expect any change in rates. But there is concern about the rate of rates in future. Except for banks and autos, all the important sectoral index are closed in red mark.
LKP Securities Senior Technical Analyst Metapors Day Says that the index was seen fluctuating throughout the day. The updates associated with the Israeli-Iran war and the possibility of American intervention affected the global sentiment. In addition, the expectations before the upcoming Fed Meeting maintained the Indian markets volatile.
From the technical perspective, the Nifty has closed below the important support level of 24,850 today. However, a positive surprise from the Fed can be excited in both the global and domestic markets. Which can help the market overcome the current pressure. Up to 25,000 levels can be seen up to 25,000 if the upper level of 24,850 is re -achieved. At the same time, the Nifty may see a decline of up to 24,500 if failed to regain the level of 24,850.
Market Mood: Banking and financial shares are looking good, power and telecom opportunities – Harsha Upadhyay
Ajit Mishra of Railways Broking The market will react to the results of the US Fed Policy Meeting during early trade on Thursday. Most people do not expect any change in interest rates. However, the market will be eyeing Fed’s comments, especially in view of geopolitical stress and concerns related to trade tariffs. We should maintain a cautious attitude in the market until the situation is clear. Investors will keep an eye on shares that are showing comparatively strength even among heavy volatility. This includes large-cap and mid-cap fundamentally strong shares.
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