The downside of the market
The Nifty below 10790Global signals are looking very bad. Today, Asia has weakened. With the fear of the economic downturn, the American market has broken more than 3% in yesterday's trade. Dao Jones closed 800 points yesterday. This is the biggest drop in Dow after October 10. There is also a decline in the Indian markets among these weaker global signals today.
In the early trading, the Sensex and Nifty moves are looking dull. The Sensex is close to 35875 and the Nifty is close to 10790. Today, there is a weakness in the mid-and small-caps shares, with giant stocks. The BSE Midcap Index is trading around 0.40% with a weakness of around 15035. At the same time, the BSE's Smallcap Index is falling by 0.4% to around 14450.99.
In today's trade, the pressure of selling of banking shares has been strained, which led to the Bank Nifty falling 0.33% to 26,605. The market is getting all-round decline today. However, in today's trade, buying is seen in oil and gas stocks, due to which BSE's oil and gas index is trading with a growth of 0.6%.
Metal, FMCG, auto and IT stocks are seeing heavy selling today. Nifty's metal index is trading 1.35%, FMCG Index is 1.1 percent and auto index is down 1%. In addition, 0.4% in the Realty Index and 0.7% in the Pharma Index are trading with weakness.