The Indian stock market SENSEX fell.
In response to the sharp selling of tech stocks in the BSE Sensex and the overnight drop on Wall Street, leading to a decline in Asian markets, the BSE Sensex remained flat in the morning session before dropping 477 points (0.6%) early in Wednesday's trading, down to 82,079.
The Nifty 50 traded within the previous day's range on September 3, closed flat with a positive bias after maintaining an upward trend for 14 consecutive sessions. No change in trend reversal is expected, and a breakout in the consolidation phase at high levels is anticipated. If the index closes above 25,300, 25,400 will be the immediate target. In a downtrend, 25,200 will be the immediate support, followed by 25,000 as a significant support level. If the Bank Nifty maintains 51,500, 52,000 will be the upside target, with 51,000 as a key support. The overall trend suggests buying during the downtrend.
Ahead of the release of the key U.S. nonfarm payrolls data, which serves as an indicator of the Federal Reserve's interest rate outlook, traders have shown a cautious stance.
Furthermore, amid a slowdown in the growth rate of manufacturing in August, concerns remain about the health of the Chinese economy.
In India, the growth rate of the service industry has been revised upward to the highest level in five months.
PSU banks, high-tech sector, and automobiles, among others, fell almost across the board.
Coal India fell 2.9%, followed by ONGC (-2.6%), LTI Mindtree (-1.8%), Hindalco (-1.6%), and Infosys (-1.5%).
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
chanboka : Thank you for the information. At the moment, the relatively small decline in Indian stocks is somewhat comforting. I hope for a recovery. Praying, praying
乱空 OP chanboka : Analysts in India still believe that there is an overall upward trend. Even though both SENSEX and Nifty50 have retreated for a few days, they are still trading at a high level and it is gratifying that they are rising rather than witnessing a market top.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
chanboka : Overall, maintaining an upward trend, I'm happy
It's best to hold on patiently, right?
乱空 OP chanboka : If there was a further decline in the Nikkei, I considered buying more, but the rebound was strong and I couldn't do anything, so I just watched.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")