A morning walk down Dalal Street | Refrain from creating directional bets on Nifty
Episode 1482, Jul 25, 2019, 02:43 AM
Benchmark indices hit a fresh 2-month as markets fell for 5th consecutive day in a row on Wednesday. The S&P BSE Sensex saw a cut of more than 100 points while the Nifty50 closed below its 200-days EMA ahead of F&O expiry on Thursday.
The broader market underperformed as the S&P BSE Smallcap index and the Midcap index plunged more than 1 percent each.
Experts feel that slowdown concerns have dampened the sentiment and persistent selling by foreign investors has capped the upside along with muted corporate results. FIIs have pulled out more than Rs 11,000 crore from the cash segment of Indian equity markets in July.
Nearly 500 stocks on the BSE hit a fresh 52-week low which include names like Page Industries, Eicher Motors, Bosch, Force Motors, CARE Ratings, IFB Industries, Godrej Consumer, M&M, Aurobindo Pharma etc.a mong others.
The Indian rupee furthered its weakening trend for a third session in a row on July 24, edging lower by 4 paise to 68.98 against the US dollar as foreign fund outflows and higher crude oil prices weighed on sentiment.