Stock Market ends in the red; Sensex loses 500 points
The Indian stock market ended in the red on Tuesday, with the Nifty falling below the 23,900-mark and the Sensex dropping nearly 500 points.
The Indian stock market ended in the red on Tuesday, with the Nifty falling below the 23,900-mark and the Sensex dropping nearly 500 points.
The Indian Stock Market on Monday rallied sharply supported by a steep fall in crude oil prices.
The Indian equity markets posted mild gains early on Friday tracking positive global cues, over optimism regarding US-Iran peace negotiations.
The recent Gulf War has unsettled global energy markets, disrupted shipping routes, and shaken investor confidence.
Indian stock markets staged a sharp recovery to close in the green after falling as much as 1.3 per cent on an intraday basis.
Sensex crossed the 73,000 mark on Monday led by Wipro which was up by 6 per cent.
Experts believe the trend was predominantly supported by the Santa Claus rally in anticipation of early rate cuts by the US Fed and cooling global inflation.
The concern in the market now is the excessive valuations in the mid and small-cap segments, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
It was a shortened week at the bourses with Monday being a trading holiday. Markets gained on three of the four trading sessions and lost on one.
Nifty closed on a flat note with negative bias, while most sectoral indices closed in the green on Thursday.
