The Indian stock market was showered with riches on Dhanteras, although yesterday's gains were washed away in the Indian stock market today on Wednesday. Foreign Port Folio Investors – As FPIs stocks continue to sell off and Vikram Samvat 2080 is coming to an end, retail investors are also wary of major corrections in stocks and 25 to 30% of portfolio value has fallen in this decline. was recorded.
Sensex lost over 80,000 points and Nifty futures lost over 24,400 points today as funds hammered banking stocks on reports of stressed assets related to weak asset quality of a number of banks and the start of the corporate results season at home following geopolitical tensions. Along with this, the market breadth on BSE was negative.
On BSE, the midcap index closed up 0.04% and the smallcap index closed up 1.54%. As far as various sectoral indices are concerned, only services, industrials, FMCG, commodities, capital goods and telecommunication stocks were seen to gain on BSE, while all other sectoral indices closed lower. Out of total 4011 scrips traded on BSE, decliners were 1040 and advancers 2892, 79 scrips were unchanged. While in 7 stocks there was a bearish lower circuit of only sellers against an upper circuit of bullish only buyers in 8 stocks.
In the S&P BSE Sensex Maruti Suzuki 1.92%, IndusInd Bank 1.81%, Adani Port 1.69%, Larsen Lee. 0.77%, ITC Ltd. 0.72%, Ultratech Cement 0.71%, Titan Company Ltd. 0.40%, Reliance Industries 0.37%, Nestle India 0.37%, Hindustan Unilever 0.23% and TCS Ltd. was up 0.21%, while Infosys Ltd. 2.01%, ICICI Bank 1.52%, Kotak Mahindra Bank 1.32%, Mahindra & Mahindra 1.28%, State Bank of India 1.23%, HCL Technology 1.20%, Axis Bank 1.13%, NTPC Ltd. 0.95%, HDFC Bank 0.71%, Bajaj Finserv 0.89%, Tata Steel 0.73% and Bajaj Finance declined 0.71%.
Aggregate market capitalization of BSE-listed companies increased by 1.21 lakh crore to 436.07 lakh crore as investors bought into midcap, smallcap stocks against decline in index-based Sensex, Nifty. Out of 30 companies in the S&P BSE Sensex, 11 companies advanced and 19 companies declined.
Nifty Future Technical Levels NIFTY FUTURE CLOSE :- ( 24371 ) :- The next swing is likely to see Nifty Future touch the all-important surface of 24202 points, 24202 points, 24170 points with respect to first and 24575 points very important strong stoploss trading. Cautious positioning around 24575 points.
Bank Nifty Future Technical Levels Bank Nifty Future Close :- ( 51798 ) :- The next move is likely Bank Nifty Future to touch the all-important level of 51606 points first and 51474 points from 51979 points to 52088 points, 51180 points all-important strong stoploss trading. Cautious positioning around 51180 points.
Specific technical level regarding future stock Bharat Forge ( 1420 ) :- The share price of this leading Kalyani Group company is currently trading around Rs.1390. Buyable with a stop loss of Rs.1373, this stock is likely to register a price of Rs.1444 to Rs.1453 in a short period of time…!! Bullish focus above Rs.1460.
Reliance Industries ( 1343 ) :- Positive breakout around Rs.1308 as per technical chart…!! Buyable with support of Rs.1290, this stock is likely to touch Rs.1357 to Rs.1360…!!
Oberoi Realty ( 1929 ) :- According to the technical chart, this stock from the residential, commercial projects sector has the possibility of a target price of Rs.1898 to Rs.1884 with a profitable sell-off around Rs.1949. Consider a trading stoploss of Rs.1960..!!
Infosys Ltd. ( 1802 ) :- Registering overbought position around Rs.1844, this stock sellable with stoploss of Rs.1850..!! It is likely to show the price of Rs.1787 to Rs.1775 in phases…!! Consider bullish above Rs.1863…!!
Future direction of the market… Friends, in terms of returns BSE Sensex and NSE Nifty may have provided more than 23% returns in Vikram Samvat 2080 but in the latter part of the ending Vikram Samvat 2080 i.e. October, global geopolitical tensions and massive sell-off of foreign institutional investors from Indian equities have dampened investor sentiment. . Vikram Samvat 2080 started on November 12, 2023. During the period November, 2023 to October 28, 2024, FIIs have sold a net Rs.1,94,423.41 crore in Indian equities cash. Sales of more than Rs.1 lakh crore have been seen in the current month alone. The economic recovery seen in China is believed to be the main reason for the massive outflows of FIIs from India. Vikram Samvat 2081 may see a higher outflow of foreign investors if its economy improves due to the recent stimulus announced by the Chinese government.
We are now entering Samvat 2081 under a decline of over Rs.1 lakh crore in FII cash sales in Indian equities in the year to date period of 2024 due to FII outflows, geopolitical tensions, softening of corporate income, inflation and money from companies in other sectors excluding banks, IT. The results of the second quarter of the year 2025 are seen to be weak, the impact of which can be seen in the coming time and if the conflict between Israel and Iran turns dark, it will also have an adverse impact on Indian equities in Samvat 2081.
The author is a SEBI registered research analyst and proprietor of Investment Point.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
