Equity benchmarks closed below their 200-daily moving average. The 30-share BSE Sensex tanked 514.19 points or 1.92 percent to 26304.63, the lowest closing level since May 25, taking the total loss in two consecutive days to 1200 points.
The 50-share NSE Nifty was down 187.85 points or 2.26 percent to close at 8108.45 after hitting an intraday low of 8093.20.
While maintaining overweight rating on India, Chris Wood of CLSA said demonetisation will be negative for equities in short term, adding that the move is a positive for bond and currency markets. Besides, demonetisation will help increase deposit growth of banks significantly, he said.
S Naren of ICICI Prudential MF said he does not expect February lows of 6900-7000 on the Nifty to be tested in near term.
The broader markets continued to underperform benchmarks with the BSE Midcap and Smallcap indices falling 3.91 percent and 4.7 percent, respectively. About 7 shares declined for every share rising on the exchang
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The 50-share NSE Nifty was down 187.85 points or 2.26 percent to close at 8108.45 after hitting an intraday low of 8093.20.
While maintaining overweight rating on India, Chris Wood of CLSA said demonetisation will be negative for equities in short term, adding that the move is a positive for bond and currency markets. Besides, demonetisation will help increase deposit growth of banks significantly, he said.
S Naren of ICICI Prudential MF said he does not expect February lows of 6900-7000 on the Nifty to be tested in near term.
The broader markets continued to underperform benchmarks with the BSE Midcap and Smallcap indices falling 3.91 percent and 4.7 percent, respectively. About 7 shares declined for every share rising on the exchang
Get real time advice for Stock Trading tips , Best Accurate Stock Tips , Stock Market Live , Equity Tips and all Maket Updates From Capitalstars .
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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