NIFTY 50 on 22nd September 2023

Nifty Index Market Condition on 22nd September 2023

The Indian stock market on 22nd September 2023 witnessed a tumultuous day with the Nifty index experiencing a significant downturn. The market opened with a gap down for the second consecutive day and traded with a negative bias throughout.

Market Performance

The Nifty index ended the day below 19750, with a loss of over 150 points. The S&P BSE Sensex, another major market index, also fell by 0.24% to 66,071.94 by 10 am, while the NSE Nifty 50 fell by 0.33% to 19,677.10. By the end of the trading session, the Nifty had fallen further to 19,674.25.



Factors Influencing the Market

Several factors contributed to this bearish market scenario. Investors offloaded healthcare, consumer durable, and commodity stocks amid a weak trend in global markets. Foreign fund outflows and heavy selling in HDFC shares also hit investor sentiments.

In terms of institutional activity, Foreign Institutional Investors (FIIs) were net sellers in the capital market, as they offloaded shares worth Rs. 12,166.94 crore, while Domestic Institutional Investors (DIIs) were net buyers, purchasing shares worth Rs. 7,902.06 crore.

Securities in Ban for Next Trading Day

Several securities were put under a ban for the next trading day due to their crossing of the Market Wide Position Limit (MWPL). These included Canara Bank, Delta Corp Limited, Granules India Limited, Hindustan Copper Ltd, Indiabulls Hsg Fin Ltd, and Manappuram Finance Ltd.

Conclusion

The market condition on 22 September 2023 was largely bearish, influenced by both domestic and global factors. Investors are advised to stay cautious and make informed decisions based on thorough research and market trends.

Disclaimer: This blog is for informational purposes only and should not be taken as investment advice. Always conduct your own research before making any investment decisions.

Comments

Post a Comment

Popular posts from this blog

Journey Through NSE India: Unveiling Trading Secrets from My Course Experience

Image
  Technical Analysis: A Comprehensive Guide for Trading Hello everyone! I’m excited to share with you the knowledge I’ve gained from the course “Investing and Trading Strategies” conducted by NSE India. This blog post will delve into the world of technical analysis and provide you with the necessary information for successful trading. So, let’s get started! What is Technical Analysis? Technical analysis is a trading discipline that seeks to identify trading opportunities by analyzing statistical trends gathered from trading activity, such as price movement and volume. Unlike fundamental analysts, who attempt to evaluate a security’s intrinsic value, technical analysts focus on charts of price movement and various analytical tools to evaluate a security’s strength or weakness. Why is Technical Analysis Important? Technical analysis is a crucial aspect of trading for several reasons: Market Timing : Technical analysis can help traders time their entry and exit points more accurately. Ris
Read more

Nifty 50 Market Analysis for Sep 25, 2023

Image
  Nifty 50 Market Analysis for September 25, 2023 The Nifty 50 index, a benchmark for the Indian stock market, is one of the most actively traded indices in the world. Here’s an analysis of the Nifty 50 for the week of September 25, 2023. Overview The Nifty 50 closed the previous week on a negative note, losing 2.66%. The immediate support for the Nifty 50 share price was seen at 19,489.38. If the Nifty 50 share price were to close below this immediate support, a sharp breakdown could be expected. Resistance and Support Levels On the positive side, the immediate resistance was seen at 20,027.23. If the Nifty 50 share price were to close above this level, a sharp breakout could be expected. The major resistance for the Nifty 50 share price for the week was seen at 20,380.22. The trading range for the Nifty 50 share price for the week was expected to be between 18,951.53 on the downside and 20,565.08 on the upside. Previous Week’s Performance The Nifty 50’s previous week high was 20,195.
Read more