Stock Market Today: Sensex traded lower for the fourth consecutive day due to gap-up in shares of private banks including HDFC Bank and ICICI Bank as well as stock-specific profit-booking. Nifty also broke its support level 22200.
Sensex today fell to 73073.92 after opening at 73225. At 10.54am it was trading at 73139.17, down 375.17 points. After opening lower, Nifty hit a low of 22185.20. The latter was trading 97.85 points lower at 22204.65.
The trend of profit booking has increased in the stock market in the last few trading sessions. Bullish stance on RBI infrastructure finance and other related matters weighed on private bank stocks today. Shares of HDFC Bank, ICICI Bank, IndusInd Bank have seen a decline of up to 2 percent.
On the other hand, investors have adopted a cautious attitude due to reports of NDA seats falling to 320-330 in the third phase of Lok Sabha elections 2024 in the BJP stronghold. According to analyst Ambrish Baliga, short-term volatility is expected with the elections likely to record expected results. If NDA’s seats are less than expected then a big correction may be seen in the market.
Angel One technical analyst Rajesh Bhosale has given resistance level of 22400-22480 and support level of 22200-22150 for Nifty.
Status of shares traded on BSE
, Out of total 3619 trades, 1946 shares improved and 1509 declined.
, 112 stocks hit year’s high and 22 stocks hit 52-week low
, Upper circuit in 193 shares and lower circuit in 208 shares.
, Till 11 am the market cap of BSE stood at Rs 399.11 lakh crore.
