Hope is dead today
The first day of the trading week is proving to be a nightmare for investors. The stock market seems to have decided that all it will do today is fall. INDIA VIX, an index that is a proxy for the fear investors feel in the Indian stock markets, is the only index that is in green. In other words, hope today is dead and fear is laughing in the face of investors.
All market caps participating
The stock markets are consistent with all three market-cap stocks participating in the downfall. At the time of writing, large-cap stocks index NIFTY 50 is down 1.28%, mid-cap stocks index NIFTY MIDCAP 50 is performing worse, being down 2.29%, and small-cap stocks index NIFTY SMALLCAP 50 is down 1.24%.
No performers today
There are no performing sectors today. FMCG stocks are the ones that are relatively better off with their index only falling 0.26%.
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Lagging sectors
Metals, automobiles are leading the decline with the index for the former down 4.4% and that of the latter down 3.2%. Next are realty and media stocks with their indices down about 2%.
Conclusion
All in all, it has been a depressing half-day for investors in Indian stock exchange. The fact that the markets decided to do the same on the first trading day of the week raises questions as to how the whole week will unfold.