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  • Sensex Falls 500 Points To Close Below 80,200, Nifty Settles Below 24,200 – News18

    Sensex Falls 500 Points To Close Below 80,200, Nifty Settles Below 24,200 – News18

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    The 30-share BSE Sensex fell for the second straight session, nosediving 1,064.12 points or 1.30% to close at 80,684.45, slipping below the 81,000 mark.

    Traders attributed the decline to sustained foreign capital outflows and a negative trend in global markets, dampening overall sentiment.

    Traders attributed the decline to sustained foreign capital outflows and a negative trend in global markets, dampening overall sentiment.

    Stock Market Updates: Equity benchmark indices Sensex and Nifty stayed on the back foot for the third straight session on Wednesday as investors offloaded utility, capital goods and metal stocks amid foreign fund outflows.

    The 30-share BSE benchmark Sensex tumbled 502.25 points or 0.62 per cent to settle at 80,182.20, taking its downtrend to the third day. During the day, it tanked 634.38 points or 0.78 per cent to 80,050.07.

    The NSE Nifty declined 137.15 points or 0.56 per cent to 24,198.85.

    “The near-term market construct has turned weak, with FIIs turning sellers on rallies. Yesterday’s massive FII sell figure of Rs 6,410 crore in the cash market indicates that more selling is in store on market bounces.

    “The focus of global markets today will be the Fed decision expected tonight. A 25 bps rate cut is priced in by the market. So, the attention will be on the Fed commentary,” VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

    From the 30-share blue-chip pack, Tata Motors, Power Grid, NTPC, Adani Ports, JSW Steel, ICICI Bank, Larsen & Toubro and Bajaj Finance were the main laggards.

    In contrast, Tata Consultancy Services, Reliance Industries, Tech Mahindra and HCL Technologies were the gainers.

    Foreign Institutional Investors (FIIs) offloaded equities worth Rs 6,409.86 crore on Tuesday, according to exchange data.

    In Asian markets, Seoul, Shanghai and Hong Kong settled higher, while Tokyo ended lower.

    European markets were trading in the positive territory in mid-session deals. Wall Street ended lower on Tuesday.

    Global oil benchmark Brent crude climbed 0.48 per cent to USD 73.67 a barrel.

    Falling for the second day in a row, the BSE benchmark tanked 1,064.12 points or 1.30 per cent to settle at 80,684.45 on Tuesday. The Nifty tumbled 332.25 points or 1.35 per cent to 24,336.

    News business » markets Sensex Falls 500 Points To Close Below 80,200, Nifty Settles Below 24,200

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  • Market Sentiment Next Week Hinges On Q2 Earnings, Key Economic Data And FII Flows – News18

    Market Sentiment Next Week Hinges On Q2 Earnings, Key Economic Data And FII Flows – News18

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    A host of domestic, global trends and trading activity of foreign investors will be the major driving factors for market this week

    Stock Market Update Next Week

    Stock Market Update Next Week

    A host of macroeconomic data announcements, the last batch of September quarter earnings, global trends, and trading activity of foreign investors will be the major driving factors for the equity market this week, according to analysts.

    “India is set to release CPI and IIP data on November 12, with WPI data expected on November 14. Globally, the US inflation report on November 13 will be critical, as it may influence the Federal Reserve’s upcoming policy stance,” Santosh Meena, Head of Research, Swastika Investmart Ltd, said.

    With major global events and Q2 earnings (of blue-chip companies) behind, the market focus will shift to key macroeconomic data and the last round of results, Meena said.

    Bank of India, BEML, Hindalco Industries, ONGC, Apollo Tyres, and Brainbees Solutions — the parent firm of online e-commerce platform FirstCry — among others will announce their quarterly earnings this week.

    “The performance of US bond yields and the dollar index will be pivotal for emerging markets like India, as both have surged since the US election outcome. Given this backdrop, FIIs (Foreign Institutional Investors) activity will remain a crucial driver for the Indian equity market in the near term,” Meena added.

    Movement in global oil benchmark Brent crude and the rupee-dollar trend would also guide markets this week, analysts said.

    “The outlook for the market will be guided by the major domestic and global economic data such as India’s CPI, industrial production, manufacturing output, WPI inflation, US CPI, core CPI, initial jobless claims, UK GDP and China industrial production data,” Palka Arora Chopra, Director of Master Capital Services Ltd, said.

    Last week, the BSE benchmark declined 237.8 points, or 0.29 per cent, and the Nifty went lower by 156.15 points, or 0.64 per cent.

    “The weakness in the Indian market can be attributed largely to the relentless selling by FIIs which continue this month, too,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

    Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd, said, “Markets are expected to remain sideways on the back of mixed global factors and subdued quarterly results. However, there could be stock-specific action on account of the last leg of Q2 earnings to be announced this week.”

    FPI Trend

    The exodus of foreign investments from Indian equity markets continued unabated, with FPIs pulling out nearly Rs 20,000 crore in the last five trading sessions on higher valuations of domestic stocks and shifting their allocation to China.

    As a result, foreign portfolio investors (FPIs) have turned net sellers in the equity market, with total outflows reaching Rs 13,401 crore for 2024 so far.

    MCap Erodes

    The combined market valuation of six of the top 10 most-valued firms eroded Rs 1,55,721.12 crore last week.

    Stock Market Holiday On November 15

    Equity markets will remain closed on Friday for Guru Nanak Jayanti.

    (With PTI inputs)

    News business » markets Market Sentiment Next Week Hinges On Q2 Earnings, Key Economic Data And FII Flows

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