Monday massacre on D-Street: Sensex, Nifty nosedive over 2% each, Rs 3.78 cr investor wealth erased

By | February 22, 2021

Monday bloodbath on D-Road: Sensex, Nifty nosedive over 2% every, Rs 3.78 cr investor wealth erased

Stock market today, Sensex today, Nifty todayIndia VIX or the worry gauge of home markets zoomed 15% to shut above 25 ranges.
(picture: REUTERS)

Sensex and Nifty have now erased all good points made since February 3 as bears continued to wreak havoc on Dalal Road for the fifth consecutive session. S&P BSE Sensex dived 1,145 factors to finish at 49,744. 50-stock NSE Nifty ended at 14,676, giving up 15,000 mark initially within the day after which falling beneath 14,700 which once more as a help stage. Amid this, India VIX or the worry gauge of home markets zoomed 15% to shut above 25 ranges. Monday’s buying and selling session left traders poorer by Rs 3.78 lakh crore.

Deepak Jasani, Head of Retail Analysis, HDFC Securities

“Indian benchmark fairness indices fell essentially the most in two months on Feb 22, ending decrease for the fifth consecutive session. Nifty has fallen 5% from its all-time excessive in about 5 periods. Indian equities got here below promoting strain attributable to Cautious commerce in markets overseas, Slowing FPI inflows, profit-taking and breach of key technical ranges. Rising crude oil costs that would influence the macros and inflation and rising 10-year Gsec yields have been the important thing native elements that shook the fairness markets. Additionally, markets have run up fairly sharply because the finish of January 2021.”

Ajit Mishra, VP – Analysis, Religare Broking

“Markets began the week on a feeble notice and misplaced over 2%, monitoring subdued world cues. Among the many benchmark indices, the Nifty index slipped beneath the essential help zone of 14,800 and eventually closed at 14,676 ranges. The current spike within the COVID instances mixed with subdued world cues is weighing on the sentiment. After this slide, Nifty has misplaced momentum and the following main help exists at 14,300. Going forward, macroeconomic knowledge i.e. GDP knowledge and core sector knowledge and updates on COVID-19 instances can be actively tracked.”

Vinod Nair, Head of Analysis at Geojit Monetary Companies

“Rising financial restrictions from a spike in virus instances and weak world cues hit the home market sentiment. The speed of market fall was aggravated by a pointy rise in volatility, being a month-to-month F&O expiry week. FPI inflows which was main the rally slowed down attributable to world vulnerabilities from rising bond yield & inflation. Nevertheless, this can be a purchase on dips market, a short-term correction will set off new shopping for, as financial fundamentals have improved, with extra give attention to industrial & cyclicals.”

Manish Hathiramani, Proprietary Index Dealer and Technical Analyst, Deen Dayal Investments

“The markets have cracked the help of 14800 with utmost ease and on the again of excellent volumes. We must always slide to 14500 which must be the following stage of help failing which 14300 can be the following goal for the Nifty. The resistance on the upside now stands at 15100 and till we don’t cross that, a rally up could be utilized to quick the Nifty for decrease targets.”

Manish Shah, Founder, Niftytriggers

“Nifty noticed a quick decline because it misplaced 300 factors over the shut of the day past. The worth motion confirmed an extended crimson candle that has closed that the lows of the day and the vary of the candle highest within the final 8-10 days. Nifty is in oversold territory as short-term oscillators present oversold studying. After a fall of such magnitude, there’s a aid rally. As we go into the previous few days of February expiry anticipate the volatility to be excessive.”

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