Sensex and Nifty close lower by about 0.7%
The Indian stock markets are punishing investors. However, there may be a silver lining in all this if we look at the fear index of India, INDIA VIX.Author : Gopal Aggarwal
The Indian stock markets National Stock Exchange (NSE) and BSE (formerly Bombay Stock Exchange) have been providing mixed signals to investors.
On some days, the benchmark indices move up like they are going for the moon, while on other days it falls like a rock leaving nothing but red colour in its their wake.
After two days of off-days, this Monday opened to punish and harass all those who have shown faith in the Indian stock markets.
On closing basis, all market capitalisation stocks are in the 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%.
Most of the sectors are in red, while a few are in green.
Sectors media, private bank, and financial services were the most 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 closing basis, followed by Nifty IT which is up by 0.56% and lastly Nifty PSU Bank which is 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 level of 15,000.
Thus, could a bottom be in place and a short-term movement upwards expected?
The coming trading days will tell.
All information is for education purpose only.