The Nifty Midcap saw a weakness of 1.71% while the shortcap shortfall was 1.02%.
Sensex and Nifty index of the Indian stock market closed in the red mark on the first day of the week. After opening marginally above the previous day’s level in the morning, the Nifty declined as the day progressed on Monday and the index had come very close to 11,700. The same was seen in the BSE index and the Sensex reached below 40,000 at one time. Amidst considerable volatility, both indices saw a decline of around 1.3% after the weekend.
Also Read:Sensex down nearly 100 points ..! Nifty falls below 11,900
At the time of closing the market, 39 of the 50 stocks of Nifty remained in the red zone, while only 8 stocks of 30 Sensex stocks strengthened.
Market Movement
Nifty
Open – 11937.40
Peak – 11,942.85
Close been done 11,767.75
total decline (-1.36%)
Sensex
open – 40649.76
Pik- 40,724.40
Close been done 40,145.50
total decline (-1.33%)
What was the reason?
After good growth last week, the stock market bears on Monday. After weak signals from foreign markets, the Indian market also chose the path of boom. Experts had estimated that the market could see correction below 12,000. The reason for this weakness in the market can be attributed to the increasing cases of Corona in European countries. After the boom of the previous days, there was a possibility of selling. Oil and gas, automobile and banking sectors contributed to the decline in the Indian market on Monday. In the broader market, the Nifty Midcap 100 and the Smallcap 100 closed in a negative direction on the path of their parent index. The Nifty Midcap saw a weakness of 1.71% while the shortcap shortfall was 1.02%.
Which sector did how well?
On the first day of the week, oil and gas, metals and automobile sectors remained in the red mark after major weakness in the Nifty. The decrease in these three areas was more than 3%. In the tech sector, 0.47% while telecom declined 0.08%. In other important sectors, the chemicals weakened by 2.17% while in the pharma sector the decrease was 1.35%.
These stocks set the market direction –
Most of the Nifty stocks disappointed on the first day after the weekend. HDFC Life became the only company to see a rise of more than 2.5%, while recently, Hero Moto Corp, JSW Steel etc., which had made new highs of 52 weeks, saw a decrease.
Nifty seen in these shares -50 fastest
HDFC Life (+ 2.51%),
Nestle (+ 2.48%)
, Kotak Mahindra Bank (+ 2.45%)
, IndusInd Bank (+ 1.40%)
L (+ 1.12%)
shares of Nifty -50 Broken
Hero Moto Corp (-6.85%)
Bajaj Auto (-6.07%)
Hindalco (-5.40%)
Mahindra & Mahindra (-4.48%)
JSW Steel (-4.03%)
Stocks that are most active –
In terms of value, Reliance, HDFC Bank and Hero Moto Corp were the three most active stocks in the Nifty 50, while stocks of Tata Motors, SBI and NTPC dominated the market by volume. The index Vix (VIX), which shows volatility in the market, saw a gain of 4.58% on Monday, after which it has moved further away from its favorable zone 20-18 to 22.83.
What’s the sign for tomorrow?
Monday’s weakness can be seen as a necessary correction in the market. In the coming days, foreign signals will have a big impact on the market, the health of the economy and the quarterly results will also be an important factor. Volatility is expected in the market.
