Indian Stock Market Today
The Indian equity market witnessed a steep decline on Monday, with the BSE Sensex tumbling over 1,000 points to settle at 76,364 and the Nifty50 index falling more than 300 points to 23,085. The rupee also plunged to a record low of 86.27 against the US dollar, marking a 23-paise drop in early trade.
Indian Stock Market Today Key Factors Driving Market Volatility
- Surging Crude Oil Prices: Concerns over supply disruptions pushed crude oil prices to a three-month high, adding pressure to the domestic market.
- Stronger Dollar Index: The dollar strengthened against major global currencies, further exacerbating market stress.
- Robust US Employment Data: Solid non-farm payroll figures heightened fears of prolonged inflation, leading to expectations of a cautious approach from the Federal Reserve regarding rate cuts.
Asian and US Market Trends
Asian equities mirrored the negative sentiment seen in US markets. On Friday, the S&P 500 registered sharp losses, erasing its 2025 gains. Rising oil prices and new Russian sanctions also contributed to the decline of the global market.
Indian Stock Market Today Key Market Observations
Market experts suggest a potential downside in the near term. Nagaraj Shetti, a prominent market analyst, noted, “A decisive breach below the immediate support could lead to levels around 23,260 or lower. However, the immediate resistance stands at 23,700.”
F&O Banned Stocks
The following stocks were placed under the Futures and Options (F&O) ban:
- Manappuram Finance
- RBL Bank
- Hindustan Copper
- LT Finance Holdings
- Bandhan Bank
FII and DII Activity
Foreign Portfolio Investors (FPIs) sold shares worth ₹2,254 crore, while Domestic Institutional Investors (DIIs) countered by purchasing shares valued at ₹3,962 crore. Additionally, FII net short positions increased from ₹2.67 lakh crore to ₹2.77 lakh crore.
Immediate Outlook
With market sentiment under pressure, traders and investors are eyeing key support and resistance levels. Crude oil’s trajectory and global economic data will play a significant role in shaping the market’s direction.
Poll: Will the Stock Market Recover by Month-End?
- Yes
- No
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