Rudra Investment | Sensex Slips 330 Points, Nifty Slips Below 10400, Banking Shares Fall

Rudra Investment SEBI Registered Stock Market Advisory

The Indian stock market started on Monday with signs from the Asian markets. After a good start, the decline in the market has resulted in the increase in the sale of government-owned banks. There is pressure on the market due to weakness in auto, FMCG, IT, metal, media, pharma and realty stocks. From the all-time settlement, where the Sensex has broken 333 points from the upper level. The Nifty slipped below 10400.

Earlier, the Sensex rose by 43 points to 34,054 points. On the other hand, the Nifty opened at 10,489 points with a jump of 37 points.

Mid-caps-smallcap index rolled up

- Midcap and smallcap Stocks Trading Tips are seeing the weakness with largecap stocks. BSE's mid-cap index fell by 0.47 percent. Union Bank, Sun TV, Concore, Indian Bank, GMR Infra, Hudco, Divis Lab, Adani Enterprises fell in mid-cap stocks to 4.02-1.95 percent.

There was a decline of 0.45 percent in the BSE's Smallcap Index. Smallcap stocks include Gitanjali James, UCO Bank, RJL, GTL Infra, Allahabad Bank 9.99 to 4.93 percent.

PSU bank index slips more than 2%

- Due to the fraud in PNB, the shares of all the public sector banks are showing decline. That's why the pressure in the market is made. Allahabad Bank (5.65%), PNB (5.46%), Union Bank (5.11%), Syndicate Bank (3.36%), Indian Bank (3.06%), Bank of India (2.76%), Orient Bank (2.46%) and Bank Offshore Baroda (2.30%): Nifty PSU Bank Index has broken 2.33 percent.

At the same time, there is a decline in bank, auto, FMCG, IT, media, metal, realty, pharma and realty indices.

Weakness in the market will continue

Last week saw the flat business in the Indian Stock Market. Meanwhile, the Sensex closed above the psychological level of 34,000. Due to the exposure of the PNB scam, the entire banking sector came under pressure. Thereby, there was a weakness in the market.

FIIs are selling, DII purchases

- Foreign Institutional Investors (FII) sold 1065.99 crores in the domestic market in Friday's business. At the same time Domestic Institutional Investors (DII) invested Rs 1127.78 crore in the market.

Sensex down 286 points

In last week's trading, the Sensex was down 286.71 points, ie 0.84 per cent, while the Nifty declined by 93.20 points, ie 0.88 per cent.

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