Introduction
The Indian stock markets National Stock Exchange (NSE) andBSE (formerly Bombay Stock Exchange) have been providing mixed signals toinvestors.
On some days, the benchmark indices move up like they aregoing for the moon, while on other days it falls like a rock leaving nothingbut red colour in its their wake.
Today’s performance
After two days of off-days, this Monday opened to punish andharass all those who have shown faith in the Indian stock markets.
On closing basis, all market capitalisation stocks are inthe red and smaller capitalisation stocks led the decline. Nifty 50 (large cap)is down by 0.67%, Midcap 50 is down by 0.54% and Smallcap 50 is down by 1.06%.
Sectors
Most of the sectors are in red, while a few are in green.
Sectors media, private bank, and financial services were themost in red with the decline in each of them being more than 1%.
Metal sector was in the green with up by 1.04% on a closingbasis, followed by Nifty IT which is up by 0.56% and lastly Nifty PSU Bank whichis up by a mere 0.16%.
Is a bottom in place?
The fear index of Indian stock markets INDIA VIX is in red. Also,the benchmark index Nifty 50 has closed just a little below the psychological levelof 15,000.
Thus, could a bottom be in place and a short-term movementupwards expected?
The coming trading days will tell.
Disclaimer
All information is for education purpose only.