- by Soumili Roy
- 24th Sep 2020
Nifty Manages to Clasp 11,100 Even When Market Crashes for Fifth Day in a Row
On Wednesday, 23 September 2020, Indian market succumbed to the fifth continuous day straight on September 23 yet figured out how to recover a great deal of morning misfortunes which was a positive sign for the bulls. Sensex was somewhere around 1 percent shutting with minimal misfortunes.
We should take a glance at the last count on D-Street – Sensex tumbles 65 points to 37,668 while the Nifty50 was down 21 points to 11,131.
Sector-wise performance
If you talk about sector-wise performance, the top sectors which benefited in today’s market stand to be durables, realty, energy, and banks while in sectors like telecom, power, utilities, healthcare and public sector profit-taking was seen.
As witnessed on the broader sectors front, the S&P BSE Mid-top file was seen to be low by 0.3 percent whereas the S&P BSE Smallcap list was down 0.07 percent.
Coal India, HUL, and Axis Bank were among the top Nifty gainers.
Tata Steel, Bharti Infratel, and Bharti Airtel were among the top Nifty losers.
Stocks of the day
If talking about the stock sector-wise, action was found in the S&P BSE Consumer Durable Index which was seen to be up 0.7 percent, trailed by the S&P BSE Realty list which developed 0.5 percent, and the S&P BSE Energy index by 0.49 percent.
Selling pressure was found in the S&P BSE Telecom list which plummeted 7.3 percent, trailed by the S&P BSE Power file that was low 2.1 percent, and the S&P BSE Healthcare record plunged 1.2 percent.
A volume spike of more than 100 percent was seen in Idea, Vedanta and SAIL.
The stocks like Ambuja Cement, SBI Life, and UltraTech Cements showed Long buildup.
The stocks like Pidilite Industries, Marico, and Ashok Leylandshowed a short buildup.
More than 100 stocks on the BSE including Mphasis, MindTree and Persistent Systems hit a fresh 52-week high.
Commodity market
Copper costs cornered lower to Rs 528 for every kg on September 23 as members expanded their short situation as observed by the open interest. Base metals exchanged lower trailing uptick in the US dollar.
The US Dollar Index, estimated against a container of six monetary forms increased 0.14 percent to 94.15.
Gold costs picked up for the third consecutive day by Rs 356 to Rs 50,327 for every 10 gram in the Mumbai retail market on firm US dollar and feeble worldwide cues. The valuable metal costs plunged underneath $1,900/oz on worldwide vulnerabilities over rising Covid cases and postponement in monetary boost.
Crude palm oil prospects plummeted more than 2 percent to Rs 775.20 per 10 kg on September 23 as members expanded their short position. Malaysian palm oil fates slipped 2.67 percent to exchange at 2,914 Ringgits on Bursa Malaysia Bhd.
The crude palm oil value tumbled from more significant levels following benefit booking in Soy oil after great increases.
