[ad_1]
Share Market Today: Today the Indian stock market has started flat. Sensex fell 18 points and started trading at 60,488. While Nipty is doing business at 18,700 with an increase of 8 points. Let me tell you, yesterday, on the first trading day of the week, the stock market had closed in the red mark. Selling in shares of Adani Group companies affected market sentiment. Due to this, selling dominated the market from the beginning. At the end of trading, the BSE Sensex fell 334.98 points to close at 60,506.90. Weakness was also seen in NSE Nifty. The Nifty lost 90.30 points to close below 18,800 at 17,763.75. Out of 30 Sensex stocks, 22 advanced and 8 declined. Axis Bank, SBI, ONGC etc. were among the falling stocks.
fall in sensex
Selling seen in the market yesterday
At the same time, the rupee lost 65 paise to close at 82.73 (provisional) per dollar in the interbank foreign exchange market. The trend of decline in the shares of Adani Group companies continued on Monday as well. On Monday, shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar closed with a five per cent loss on the BSE. While Adani Transmission closed down 10 per cent. In a report by US-based short seller Hindenburg Research, the Gautam Adani-led group was accused of fraudulent transactions and manipulation of share prices. Since then, the process of decline in the shares of group companies started. The Adani Group, however, has rubbished the allegations saying that it has been complying with all legal and disclosure requirements.
These two things will be important for the market this week
The direction of the stock markets this week will mainly be determined by the Reserve Bank of India’s (RBI) decision on interest rates. Apart from this, the eyes of investors will be on the results of the third quarter of the companies. However, global trends and foreign fund movements will also play a big role. Analysts are of the opinion that Brent crude oil price and rupee movement will also be important from the market point of view. Pravesh Gaur, Senior Technical Analyst, Swastika Investmart said that all eyes will be on the direction of the US market. However, the inflow of foreign institutional investors (FIIs) will be significant, as they have been selling heavily in Indian markets since the beginning of 2023. His selling has increased further after the developments of the Adani group. This week, apart from the third quarter results of companies like Bharti Airtel, Hero MotoCorp, Hindalco and Mahindra & Mahindra, macroeconomic data will be released in the US. The monetary announcement of the Reserve Bank will be important from the point of view of the market. The Monetary Policy Committee (MPC) of the central bank will announce its decision on interest rates on February 8.
[ad_2]
Source link