As predicted in our last post nifty weekly report the selling pressure witnessed in the market and the target given 10270 has achieved. For the next nifty future targets & nifty upcoming view keep reading.
The influence of the bear was seen in today’s market which will be more powerful tomorrow. During the last hour of trade, the Sensex succumbed to selling pressure and fell nearly 300 points. It later recovered marginally in the final minutes of trading. While the Sensex fell 281 points to 33033 level, the Nifty closed 69 points or 0.68 % lower to 10264 level. Disappointing macroeconomic data and muted earnings as well as caution ahead of Consumer Price Index inflation data to be released later in the day hit the market sentiment. A weakening rupee too dampened investor sentiment. Industrial production (IIP) grew at a slower pace of 3.8% in September, mainly due to subdued performance of the manufacturing sector coupled with contraction in output of consumer durables.
The influence of the bear was seen in today’s market which will be more powerful tomorrow. During the last hour of trade, the Sensex succumbed to selling pressure and fell nearly 300 points. It later recovered marginally in the final minutes of trading. While the Sensex fell 281 points to 33033 level, the Nifty closed 69 points or 0.68 % lower to 10264 level. Disappointing macroeconomic data and muted earnings as well as caution ahead of Consumer Price Index inflation data to be released later in the day hit the market sentiment. A weakening rupee too dampened investor sentiment. Industrial production (IIP) grew at a slower pace of 3.8% in September, mainly due to subdued performance of the manufacturing sector coupled with contraction in output of consumer durables.