Sensex plunges 600 points to below 72,000; Nifty around 21,800

1 week ago 11

Stock market crash today:

BSE Sensex

and

Nifty50

continued their losing streak on the last trading day of the week. Driven by global cues and the Iran-Israel conflict, the BSE Sensex plunged 600 points below the 72,000 level and Nifty50 went close to 21,800. At 9:19 AM, BSE Sensex was trading at 71,897.78, down 591 points or 0.82%. Nifty50 was at 21,802.75, down 193 points or 0.88%.
The stock market experienced a volatile session on Thursday, with initial gains fading as the day progressed, resulting in a fourth consecutive day of declines.

"Overall we expect volatility to continue in the market in the absence of any major positive trigger, while focus will continue on stock-specific action amid the earning season," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
The technical analysis indicates that the previous closure around 21,800 might act as a support level for the bears, and if the bulls fail to defend it, the market could test the 100-day exponential moving average around 21,600, Osho Krishan of Angel One was quoted as saying by ET.

In the United States, stocks closed near the unchanged mark on Thursday as investors analyzed corporate earnings and economic data. The Dow gained 0.06%, while the S&P 500 and Nasdaq fell 0.22% and 0.52%, respectively. Asian stocks followed suit, with major indices trading lower.
Foreign portfolio investors (FPIs) remained net sellers for the fourth consecutive day, offloading shares worth Rs 4,260 crore on Tuesday. Domestic institutional investors (DIIs) bought shares worth Rs 2,285 crore. The rupee appreciated 6 paise to close at 83.55 against the U.S. dollar on Thursday, as the American currency and Brent crude oil prices retreated from their elevated levels.
Several companies, including Wipro, Jio Financial, HDFC AMC, and Hindustan Zinc, are set to announce their fourth-quarter earnings on Tuesday. Investors will closely monitor these results for insights into the performance of various sectors and the overall health of the economy.