Market Opens On The Red Mark, Sensex Breaks 174 Points
Market opens on the red mark, Sensex breaks 174 points, Nifty also falls. Today, on the first trading day of the week i.e. Monday, the stock market opens on the red mark.
The Bombay Stock Exchange’s flagship index Sensex lost 174.31 points to open at 46786.38. At the same time, the Nifty of the National Stock Exchange started 56.20 points down at 13704.30 level.
The stock market witnessed very high volatility on Friday.
Sensex and Nifty saw profit booking pressure in the last trading session of the week and both the major indices had fallen significantly at the same time.
However, the afternoon session saw a significant recovery in the Sensex. In this way, BSE Sensex closed at the level of 46,960.69 on Friday, up by 70.35 points or 0.15 percent.
On the other hand, NSE Nifty closed at the level of 13,760.50 points with a gain of 19.80 points i.e. 0.14 percent.
Among today’s major stocks, shares of all companies except L&T, Reliance, Hindustan Unilever and Sun Pharma were trading on the red mark.
The top declining players include Doc Reddy, HDFC Bank, Nestle India, Maruti, Ultratech Cement, HCL Tech, TCS, etc.
Share Market Tips: When will the stock market fall? Learn what experts have predicted
The Nifty has gained 13,800 points and the Sensex has hit a new high of 47,000 points and even then there is no sign of these two exchanges coming down.
Still CLSA has a target of 14200 in short run and 18800 in long run. Earlier, Goldman Sox had a target of 14000 points. However, CNI Research is far ahead of all these in terms of forecasting.
It had set a target of 14,000 for the year 2020 itself in 2019 and when the Nifty went up to 7500, even after that our confidence was not shaken. We took small steps to reach our goal.
This week Finance Minister Nirmala Sitharaman has indicated that the Indian economy is recovering very fast and Budget 2021 will be good.
Now it seems that this thing will help in the pre-budget boom for the next 40 days. Now the question is whether the budget will allow the market to sustain the same way.
