Todays Stock Market – Market will collapse as soon as it opens
New Delhi. The Indian stock market is seen under heavy pressure today after making gains in four consecutive sessions.
The effect of the ongoing sell-off in the global market will also be seen on the sentiment of domestic investors and they can start profit-booking as soon as the market opens.This will have an effect on trading and the Sensex will once again fall below 59 thousand.
The Sensex closed at 59,107 with a gain of 150 points in the previous session, while the Nifty climbed 25 points to 17,512. Experts say that today there is a big sell-off in the global market and there is an environment of decline in all the markets of Asia including America, Europe.
In such a situation, the sentiment of Indian investors will also be affected by selling today and the Sensex will fall again below 59 thousand.
US market condition
The US stock market had seen a lot of momentum till the beginning of this week, but investors have again been engulfed in uncertainties and started selling in the last trading session.
Due to this, the NASDAQ, which is included in the major US stock markets, saw a fall of 0.85 percent in the previous session. Other US markets, the Dow Jones and the S&P 500, were also under pressure and declined.
European markets also broke
On the lines of America, the stock markets of Europe also saw a big fall during the last trading session and all the major stock markets closed on the red mark. Germany’s stock exchange, which is included in Europe’s major markets, closed down 0.19 percent in the previous session, while the French stock market closed at a loss of 0.43 percent and the London Stock Exchange also saw a fall of 0.17 percent.
Asian markets also fall
Most of the stock markets of Asia opened on losses this morning and are trading on the red mark. While the Singapore Stock Exchange is trading at a loss of 0.60 per cent, Japan’s Nikkei is down 1.33 per cent.
Taiwan’s stock market is down by 1.99 percent today, while South Korea’s Cospi market is trading at a loss of 1.31 percent. China’s Shanghai Composite is also down 0.02 percent today.
Still these stocks will make profits
Experts say that today there is pressure on the market and selling, profit-booking will prevail, but there are some stocks which can make profits even in this environment of decline.
Today’s high delivery percentage stocks include shares of companies like Britannia Industries, Cummins India, Bharti Airtel, Coal India and Hindustan Unilever.
Big sell-off by foreign investors
The process of withdrawal of foreign investors from the Indian capital market is increasing. During the last trading session too, foreign institutional investors pulled out Rs 453.91 crore from the market by selling shares.
However, during this period, domestic institutional investors also bought shares worth Rs 908.42 crore, which helped the market to gain.