Sharp decline in the market is the first trading day of the week. Sensex and Nifty are trading with weakness is about 2 per cent. Banking and cement stocks in the index increased pressure on the market. However, Sesa Sterlite, Ultratech Cement, Axis Bank, HDFC Bank, Hindalco, Gail and heavyweight stocks like ICICI Bank has weakened 3.8 to 2.5 percent. However JSPL, HUL, Lupin, Dr Reddy's, Bajaj Auto giants such as Coal India shares have gained 5.9 to 1 per cent. Pipavav Defence midcap stocks, MindTree, Gujarat Gas, Jaiprakash Associates and are broken or Tech Wabg most 7.6 to 3.1 per cent.
Why Stock Market is down today
Market experts say that Friday's US jobs data came in better soon, raising fears of rising interest rates. Under which the United States and Asia has seen heavy selling in the stock markets. Is similar to the decline in the stock market. Experts also believe that in the short term will see a profit in the Sensex and Nifty. However, in the long term is expected to continue steadily.
Our expert reported that US interest rates are expected to go before the estimates are too frightened market. Nifty is trading in a wide range of 8200-9200. Nifty is now expected to return to 8400 levels, close to shopping.
What Market Experts Say-
Our Research Expert says that crucial support for the Nifty is at 8850 levels. So Nifty breaks 8850 levels by 8650 levels are possible. Having crossed the 8980 will see a strengthening of the market. Anu Jain said Bank Nifty chart appears weak, but private banks are looking strong in the chart. The IT stocks now looks vulnerable and select IT stocks weakness may continue for the next few days. Trade in foreign markets, and US interest rates are expected to fall throughout the day can be traded with volatility in the market. The Nifty is trading in the range of 9000 to 8850. Indian market remained in the trading range may show little fluctuation. The lower side of the market in the range of 8775-8800 seems solid support.
Market experts say that Friday's US jobs data came in better soon, raising fears of rising interest rates. Under which the United States and Asia has seen heavy selling in the stock markets. Is similar to the decline in the stock market. Experts also believe that in the short term will see a profit in the Sensex and Nifty. However, in the long term is expected to continue steadily.
Our expert reported that US interest rates are expected to go before the estimates are too frightened market. Nifty is trading in a wide range of 8200-9200. Nifty is now expected to return to 8400 levels, close to shopping.
What Market Experts Say-
Our Research Expert says that crucial support for the Nifty is at 8850 levels. So Nifty breaks 8850 levels by 8650 levels are possible. Having crossed the 8980 will see a strengthening of the market. Anu Jain said Bank Nifty chart appears weak, but private banks are looking strong in the chart. The IT stocks now looks vulnerable and select IT stocks weakness may continue for the next few days. Trade in foreign markets, and US interest rates are expected to fall throughout the day can be traded with volatility in the market. The Nifty is trading in the range of 9000 to 8850. Indian market remained in the trading range may show little fluctuation. The lower side of the market in the range of 8775-8800 seems solid support.
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