Sensex and Nifty: At approximately 9:15 am, the S&P BSE Sensex was up 0.28 percent at 71,275.64, while the NSE Nifty50 was up 0.19 percent at 21,657.35. Nonetheless, there appears to be a lot of volatility affecting both the benchmarks and the wider market indices.
In short
- India’s stock market indices start the day higher.
- Indices that are volatile at high levels.
- Paytm’s stock falls 8.5% following a downgrade by Macquarie.
Asian markets saw a solid start to Tuesday’s trading session for benchmark stock market indices. Investor confidence was also increased in January by a decrease in retail inflation. At approximately 9:15 am, the S&P BSE Sensex was up 0.28 percent at 71,275.64, while the NSE Nifty50 was up 0.19 percent at 21,657.35. Nonetheless, there appears to be a lot of volatility affecting both the benchmarks and the wider market indices. – Sensex and Nifty
Nifty IT experienced a significant decline in early trade, while heavyweight indices like Nifty Bank and Nifty Financial Services saw increases. Nifty Metal was the biggest loser, falling by about 4%. Hero MotoCorp, Divi’s Laboratories, Coal India, Axis Bank, and ICICI Bank were the top five gainers on the Nifty50. Conversely, Hindalco, Tata Steel, JSW Steel, Grasim, and Power Grid were the biggest losses.
Even though early trading has been negatively impacted by volatility, it appears that investors have gained some confidence due to a decrease in domestic inflation. According to data, retail inflation decreased to 5.10 percent in January. Investor attention is currently on US inflation data, though, since this may provide some indication as to whether the US Fed will lower key interest rates earlier than anticipated. Individual equities plummeted drastically to a record low, including One97 Communications Limited, the parent company of digital payments business Paytm, after brokerage firm Macquarie downgraded it.
Paytm shares fell 8.5% in early trade to Rs 386.25 per.
Deven Mehata, a research analyst at Choice Broking, stated, “For investors, this is a good moment to buy for long-term investment. Traders can trade the opposite way, buying at support levels and selling around resistance levels, with a strict stop loss.”
