SGX Nifty today | Nifty50 and Bank Nifty for tomorrow

March 23, 2020March 23, 2020 admin

Global markets, SGX Nifty and FIIs position today: Nifty50 and Bank Nifty for tomorrow

The SGX Nifty is trading 34.50 points or 0.46% down at 11 pm. Today the benchmark indices Nifty50 and Sensex witnessed a worst single-day fall. In the Asian markets except for Nikkei other markets were closed 3-9% down.

The Europen markets were also closed in the red today. Whereas the US markets are trading mixed, Nasdaq is trading at flat to positive but Dow and S&P are trading in the red.

Today FIIs sold Rs 2989.29 crores and DIIs bought Rs 1082.24 crores in the cash segment. In the month of March, FIIs/FPIs sold Rs 54232.44 crores whereas DIIs bought Rs 45243.19 crores in the cash segment.

Crude and Indian rupee updates

The crude oil is trading in lower today as the Fed’s additional stimulus package uncertain for the near term. The Brent crude oil future is trading at $ 26.41 per barrel, it is almost 2% down from the previous close.

The Indian rupee has closed at Rs 76.30, the rupee closed Rs 1.12 paise weaker than the previous close. The rupee closed near the all-time record low today

Conclusions:

Tomorrow the Indian stock market may open in the positive note provided the Asian markets open in the green. Nifty50 can trade in a range between 7200-7980 while the Bank Nifty can trade in a range of 15500-18200.

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Sensex & Nifty50 Updates at 3.30 pm: Another black Monday for the Indian stock market. Today the Indian market continues to trade under pressure and extended its morning losses. The market closed in deep red as indicated by the SGX Nifty today.

Nifty50 and other indexes at the close

At close, Nifty50 was down 1135.20 points or 12.98% and at 7610.25 while the Sensex declined to 3934.72 points or 13.15% and closed at 25981.24. The banking index fell the most, the Bank Nifty plunged 3399.90 points or 16.73% the biggest one day fall and closed at 16917.70.

The Nifty midcap 100 index down by 1670.45 points or 13.19% and at 10990.80. Whereas the Nifty smallcap 100 index declined by512.60 points or 13.19% and at 3372.65

Nifty50: Gainers and Losers

There are no gainers in the Nifty50 index for the day. The top five losers in the Nifty50 index for the day are Axis Bank, Bajaj Finserv, IndusInd Bank, Bajaj Finance, and Adani Ports. Axis Bank fell 27.91% today.

The only gainer in the Nifty midcap index is Prestige Estate and the top losers are Cholamandalam, Max Financial. The PSU Bank Allahabad bank, Andhra Bank, were closed in flat to positive today whereas Equitas Holding, NIIT Tech are the top losers in Nifty smallcap space today.

Among the sectors today, almost all the sectors closed in the red. The top losing sectors are Banking & Finance, Automobiles, Insurance, Infrastructures, and Electricals. All these sectors closed around 14-16% down today.

The Automobile s stocks were down due to the lockdown of various plants in Maharashtra and other parts of the countries.

Others news in the market

Indian rupee recovered from the day’s low and current trading at Rs76.08 against the US dollar.

As decided earlier of RBI’s open market operation of Rs 30000 in two tranches in March. The first tranche of OMO of Rs 15000 crore will be on 24th March and the second one of the same amount will be done on 26th March

The global rating company S&P on Monday cuts India’s estimated GDP growth in the 20-21 fiscal year to 5.2% from its earlier estimate of 6.5%. It is due to the coronavirus outbreak and its economic impact on the country.

Market Updates 11.30 am: Indian market opened in a negative note as indicated by the SGX Nifty today in the morning. After a few minutes, the trading halted for 45 minutes as Sensex hits lower circuit with losses of 10% in the very first hour of the opening session.

There was cautiousness with a report that a large amount of selling by FIIs for nearly a month due to recession fears after rapid wide-spreading novel coronavirus in Europe and the United States was one of the biggest reasons for the equity market correction. So far in the month of March, the FIIs sold Rs 51243.15 crores and DIIs bought Rs 44160.95 crores in the cash segment.

The Indian rupee has also hit a record low at Rs 76.18 against the US dollar today.

Global markets: SGX Nifty today

On the global front, except Nikkei, all other Asian markets are trading in the red. The SGX Nifty today is trading at more than 12% down at 11.30 am.

Nifty 50 & Bank Nifty Stocks

There are no gainers in the Nifty50 stocks, the top losers at this hour is IndusInd Bank, and it is trading at Rs 334.95 per share, almost 24% down. Axis Bank is also down by 21% and presently trading at Rs 339 per share. The Bank Nifty is at 17346.80, it’s down around 12% from the previous close.

The Nifty midcap100 and smallcap 100 index also fell around 11% today.

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The Bank Nifty future opened at 18264.95, it was opened a gap down of 2029.4 points from the previous close. It has touched an intraday low at 17251 and an intraday high at 19200 so far till 12.15 pm