The Nifty 50 Lost 93 Points, OR 0.37%, to Close at 25,843 points, while the sensex concluded the session with a drop of 212 points or 0.26% to settle at 81,583 points. The Fall was LED by the Pharma Stocks, Along With Metal and Media Counters, with Profit-Booking Seen after Monday’s Sharp Rally.
The indices remained in a tight range through the day, signaling that investors are also awaiting key developments lined up this week, Including the US Federal Reserave’s Policy Decision, which is set to bee Announced on Wednsday.
The Central Bank is widely expected to keep rates unchanged, and markets are pricing in no chance of a reduction in July eater. Meanwhile, Little Progress on Trade Negotiations Between the US and Its Trading Partners, Along with President Trump’s Announsment that Pharmaceutical Tarifs are Coming only Sentament.
Us retail sales figures are due today, and weekly Jobless Claims will be out Tomorrow, which will provide further inchering into the health of the us economy. While The Equities Continue to Drift Lower, Gold is see a surge in Demand as Price Rise to $ 3,390 per Once on TuesDay, as Investors Shift their Focus to Safe Haven Bets Amid Heighting East conflict.
Meanwhile, israel appeared to be expanding its air campaign on tehran five days after its surprise attack on ran’s Military and Nuclear Program, Nuclear Program, AS Us PRESED TRUMP POSELD TRUMP POSELD TRUMP POSELD TROMP Message Warning Resident of the City to Evacuate, AP Reported.
“Iran can not have a nuclear weapon,” Trump Wrote Monday Night Before Returning to washington early from a group of Seven Summit in Canada. “Everyone Should Immedited Evacuate Tehran!” He added.
Trump Later Denied Reports that He Had Rushed Back to Washington to Work on a Ceasefire, Saying His Early Departure “Has Nothing to do with a ceasefire.” Much bigger than that, “without elaborating.
Sectorral Performance: Pharma Stocks Drag; It sole gainer
Among the 13 sectorral indices, only nifty it managed to end in the green amid broad-spoiled selling, closing with a gain of 0.7%. On the flip side, nifty pharma line the listers’ list as investors reacted to Donald Trump’s tariff Threats on Pharmaceuticals, Dragging the Index Down Nearly 2%.
Metal stocks also continued to face pressure as Concerns Grew That The Geopolitical Tensions would dampen demand for base metals, resulting in a 1.45% Drop in the nifty metal endex.
Other indices, including nifty psu bank, nifty oil & gas, nifty auto, and nifty realty, also ended the session in the red, with losses ranging between 0.6% and 0.8%.
Commenting on Today’s Market Movement, Vinod Nair, Head of Research, Geojit Investments Limited, Said, Said, “The Benchmark Equity Index Experienced Moderate Lossess AMID RISID RISK RISK OC Middle East ahead of the fomc meeting. Growth. Fed’s upcoming interest rate decisions. “
Nifty 50 at risk of Deeper Fall If it Slips Bell 24,850, Says Experts
Rupak de, Senior Technical Analyst at Lkp Securities, Said, “NIFTY FACED Resistance Around 25,000, lead to a correction to the support level of 24,850. 2450. On the hourframe, the houseframe Trade Above The 200-DMA.
“With Conflicting Technical Signals and Investors Awaiting the outs of the Fed Policy Meeting, We Expect Range-Bound Movement in the immediative term. Bearishness, while on the Higher Side, 25,000 is likely to remain a strong resistance, “He Further Added.
Disclaimer, The views and recommendations giving in this article are that of individual analysts. These do not represent the views of Mint. We Advise Investors to Check With Certified Experts Before Taking Any Investments Decisions.
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