Markets to consolidate in near term
Markets are expected to consolidate in the near term as investors focus on Q4 earnings season.
Markets are expected to consolidate in the near term as investors focus on Q4 earnings season.
Markets have a mind of their own and the five trading sessions last week were of a different kind. How markets change colour almost every day, just beats me.
Markets in the week gone by were driven by fear, war-mongering and panic. Of course, all of this leads to extreme volatility and sharp two-sided moves.
Markets will continue to focus on the earnings season and global cues in the upcoming week.
Markets were under pressure in the week gone by and the optimism about markets and new highs in the festive season simply disappeared looking at the Israel-Hamas stand. Markets lost on four of the five sessions and gained on just one session.
Rising COVID-19 cases in the country have dented market sentiment of late.
ITC was the top gainer in the Sensex pack, rising around 2.10 per cent, followed by Reliance, HCL Tech, NTPC, Asian Paints, and Axis Bank.
On the other hand, the broader 50-scrip Nifty at the National Stock Exchange (NSE) opened at 11,538.45 points after closing at 11,521.80.
The Indian rupee slipped further by 95 paise to 76.15 against the US dollar in opening trade on Monday amid sharp rise in Coronavirus cases in the country and heavy selling in domestic equities.
Stocks of Reliance Industries nosedived 11 per cent in its worst single-day fall in at least 10 years as it fell to Rs 1,094.95 per share.
