The BSE Sensex dropped 337 points or 0.40%for a trade of 82,182, while the NSE Nifty slipped 92 points or 0.37%to trade at 25,057.
Among the 30 Sensex components, shares of Infosys, Tech Mahindra, Bajaj Finance, TCS, Bharti Airtel and HCL Technologies were the top LG Guards, which fell between 0.6% and 1.3%.
According to the sector, IT stocks are down 1%, while the financials are down 0.1%.
Investors’ focus will be on the earnings season today, with HCL technologies, ola electric mobility, Tata technologies and later results from many later companies.
Living events
In individual stocks, shares of NCC Limited increased by 2.3% while the company announced that it received a large work order of around Rs 2,269 crore from the Mumbai Metropolitan Region Authority (MMRDA).
On the contrary, its stock was down 2.6% after the release of Avenue Supermarts, which runs the DMART retail chain.
Specialist
The Nifty is displaying a weak trend, mainly weighed by weakness in IT stocks and this weakness could survive especially because last Friday was a big seller in the FII cash market, said GeoGit’s chief investment strategist.
“The trend will continue. NIM compression has already been exempted for the expected banking stocks in the results of Q1 in the market. Therefore, banking stocks will provide opportunities to buy. The market will expect about 20% tariff rate for India.
Technically, on a weekly chart, the Nifty has formed a bearish candle, and on a daily chart, it formed the lower top and after a long time, the index is down 20-day SMA (Simple Moving Average) zone, which will show more weakness from the current levels, and the head of the current. Weak.
“On the other hand, if the market trades above 25,350/83200, the spirit improves,” Chauhan said, “For the day, the weakness between 25150 or 25000 with stop loss at 25500 can exceed the weakness between 25050 or 25000.”
Global markets
Asian markets were slapped by weak signs of Wall Street and Europe, with US President Donald Trump’s new tariff threats to keep investors on the edge. Trump has taken a response to imposing 30% tariffs on most imports from EU and Mexico from August 1, despite the ongoing negotiations on Saturday.
Outside of Japan, the Asia-Pacific stocks were widely indexed by MSCI, while Japan’s Nikke was down 0.3%. Chinese Blue Chips rose 0.3% to show that June exports increased by 8.8% per year, beating forecasts, though shipment in the US has dropped by about 10%. Retail sales, industrial dysfunction output and main data on GDP are pending on Tuesday.
European markets reacted more sharply, with EurostoxX 50 futures 0.6%, DX Futures 0.7%and FTSE futures easier to 0.1%. US Futures also softened, both the S&P 500 and the Nasdaq Futures slip 0.4%, as the earnings season led by Major banks began on Tuesday.
In commodities, gold rises 0.1% to 35 3,359 safe demand.
Fii/dii tracker
Foreign institutional investors (FIIs) broke their purchase and on July 11, Rs. 5,104.22 crore equity was sold, while domestic institutional investors (DIIs) paid Rs. Buy 3,558.63 equity.
More to come …
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