The stock market is seeing a major drop today. Nifty is down by almost 200 points, trading near 23,600, while the Sensex has crashed by 700 points to the 75,600 mark. Meanwhile, Brent crude oil prices are holding steady around the $100 mark.
Stock Market Update: On Friday, the last trading day of the week, the stock market indices are seeing a major fall. This has put the market on track for a weekly loss. The Nifty has dropped by nearly 200 points and is currently trading around the 23,600 level. At the same time, the Sensex has plunged 700 points, falling to the 75,600 mark. The Nifty Midcap index also took a massive hit, falling by over 700 points.
Meanwhile, Brent crude oil prices are hovering around the $100 mark. The Nifty will now try to stop any further decline, as the 24,000 level has become extremely important for any upward trend.
Nifty Midcap falls over 700 points!
Market analysts have issued a warning. They say if the index breaks below the 23,800 to 23,750 support level, it could slide further down to the 23,600 to 23,500 range. On Thursday, the Nifty Bank index closed below the 57,000 mark but somehow managed to hold on to the 56,500 level. The banking index is currently going through its worst weekly performance since March. The market’s reaction to the results of Infosys and IndiGo will also play a key role. After this, the earnings reports from companies like Shriram Finance, Tata Consumer, and Bank of Baroda will also be closely watched.
Disclaimer: Asianet News Bangla does not provide any investment advice. Investing in the market is a risky affair. Therefore, please consult with experts before making any investment decisions.