Stock market today: BSE Sensex plunged as much as 1100 points in opening trade on Wednesday. The broader 50 share index, Nifty50, was also down almost 400 points in early morning trade. The stock market blood bath was led by banking stocks which were majorly in red. HDFC Bank tanked as much as 6% post its Q3 results that were announced yesterday.
At 9:18 AM, BSE Sensex was trading at 72,373.50, down over 750 points or 1.03%. Nifty50 was at 21,829.45, down over 200 points or 0.92%.
According to Siddhartha Khemka, Head of Retail Research at Motilal Oswal, the market is expected to consolidate in higher zones, with a focus on banking stocks following HDFC Bank’s result announcement.
For the index to sustain an upward movement towards 22300 levels, it needs to decisively break above the 22150 mark, says Kunal Shah of LKP Securities. According to ET, Shah stated that the immediate support is located at 21950, and a clear break below this level could trigger further corrections towards the 21800 mark.
US stocks closed lower on Tuesday due to mixed earnings from Morgan Stanley and Goldman Sachs, which put pressure on banks. Additionally, sell-offs in Boeing and Apple weighed on the S&P 500.
Equities in Asia traded mixed, and Treasuries cooled on Wednesday after a selloff in US stocks and bonds. Investors reined in bets for Federal Reserve rate cuts this year.
The dollar index stayed at a one-month high against a basket of currencies on Wednesday. This was due to remarks by Federal Reserve Governor Christopher Waller, which dampened expectations for a March rate cut.
The following stocks are in the ban period under the F&O segment as the security has crossed 95% of the market-wide position limit:
1) India Cements
2) Metropolis
3) Delta Corp
4) PEL
5) Hindustan Copper
6) Ashok Leyland
7) Biocon
8) Chambal Fertilisers
9) ZEE
10) ABFRL
11) PVR Inox
12) Bandhan Bank
13) Nalco
14) Indus Tower
15) Polycab
Foreign portfolio investors remained net buyers at Rs 656 crore on Tuesday, while DIIs sold shares worth Rs 369 crore.
At 9:18 AM, BSE Sensex was trading at 72,373.50, down over 750 points or 1.03%. Nifty50 was at 21,829.45, down over 200 points or 0.92%.
According to Siddhartha Khemka, Head of Retail Research at Motilal Oswal, the market is expected to consolidate in higher zones, with a focus on banking stocks following HDFC Bank’s result announcement.
For the index to sustain an upward movement towards 22300 levels, it needs to decisively break above the 22150 mark, says Kunal Shah of LKP Securities. According to ET, Shah stated that the immediate support is located at 21950, and a clear break below this level could trigger further corrections towards the 21800 mark.
US stocks closed lower on Tuesday due to mixed earnings from Morgan Stanley and Goldman Sachs, which put pressure on banks. Additionally, sell-offs in Boeing and Apple weighed on the S&P 500.
Equities in Asia traded mixed, and Treasuries cooled on Wednesday after a selloff in US stocks and bonds. Investors reined in bets for Federal Reserve rate cuts this year.
The dollar index stayed at a one-month high against a basket of currencies on Wednesday. This was due to remarks by Federal Reserve Governor Christopher Waller, which dampened expectations for a March rate cut.
The following stocks are in the ban period under the F&O segment as the security has crossed 95% of the market-wide position limit:
1) India Cements
2) Metropolis
3) Delta Corp
4) PEL
5) Hindustan Copper
6) Ashok Leyland
7) Biocon
8) Chambal Fertilisers
9) ZEE
10) ABFRL
11) PVR Inox
12) Bandhan Bank
13) Nalco
14) Indus Tower
15) Polycab
Foreign portfolio investors remained net buyers at Rs 656 crore on Tuesday, while DIIs sold shares worth Rs 369 crore.
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