Nifty Tips Expert | Sensex Plunged 600 Points, HDFC Rolled 6%

Rudra Investment experts say that Nifty Tips Expert Due to negative sentiment against NBFC companies, the Sensex has dropped 600 points due to a fall in both financial and realty stocks. The Nifty slipped below 11000. There is pressure on the market due to weakness in heavyweight HDFC, HDFC Bank, Kotak Bank, ICICI Bank, Maruti, IndusInd Bank, M & M. At the moment, the Sensex is trading at 1.55 percent and the Nifty is down 1.72 percent.

Reason for decline in the market

 Market all-round sale

There is pressure in the market due to heavy selling in all sectors except IT. Selling in banks, realty, auto, financial services, pharma, metal stocks is being seen. The Sensex lost 600 points in the afternoon on a major fall in M & M, IndusInd Bank, HDFC, Maruti Suzuki, ICICI Bank, ITC, EchadiFC Bank, Kotak Bank, Bharti Airtel, L & T.

Weak rupee

On Monday, the rupee appreciated by 27 paise to 72.47 against the dollar. According to the forex dealer, the rupee weakened due to China's cancellation of trade war negotiations with the US.

Lack of strong global signals

The absence of strong signals from the global market has affected the domestic market. In Asian markets, the business was seen with weakness. At the same time, the European market started with decline. From this the sentiment of the market worsened.

Crude price

On Monday, Brent Crude crossed $ 80 a barrel. Crude prices have increased due to the closure of the US sanctions ban on Iran. Over the next 9 months, the barrel crossed $ 90.

Which stocks swiftly fall

During the business, YES Bank, ONGC, Vedanta, Infosys, Coal India, NTPC, Reliance Industries, HUL grew in the gains. However, Bharti Airtel, M & M, HDFC, Maruti, ICICI Bank, Wipro, HDFC Bank, and Tata Steel have fallen.

Midcap and smallcap stocks also fell

Large-cap is showing weakness in mid-caps and smallcap stocks as well. BSE's mid-cap index has dropped 2.18 percent, while the Nifty mid-cap index of the index rose by 2.72 percent. BSE's Smallcap Index is trading 2.57 percent down.

IT index dropped all

In the sectoral index, the Nifty is bullish on the IT index. Nifty IT index has increased by 2.11 percent with weakness in rupee. Bank Nifty fell 1.89 percent, Auto Index was 3.91 percent, Financial Services 2.91 percent, FMCG 1.34 percent, Metal index 0.74 percent, Pharma Index 1.25 percent, PSU Bank 2.31 percent and Realty Index fell 5.17 percent.

Bank Nifty Breaks More Than 600 Points

The effect of the negative sentiment on non-banking finance companies is also seen on the financial stocks. The Bank Nifty declined 618 points in the trade. In Nifty bank stocks, there is a decline in all except YES Bank. ICICI Bank, Bank of Baroda, Kotak Bank, IndusInd Bank, Federal Bank, IDFC, Axis Bank and RBL Bank fell from 4.57 to 0.49 percent.