Buying in the stock market is increasing. Sensex is moving towards 53,000. Nifty is trading near 15,850. Investors are focusing on small and medium stocks. Nifty Mid has a strength of 0.35% and the Small Cap index has a strength of more than 0.40%. IT, Auto, Media and Energy indices declined. Nifty realty is up almost 2%.
According to Kaushlendra Singh Sengar, Founder and CEO, Invest19, even though the market had come down significantly from the upper level on Tuesday, the market is still in a strong uptrend. Sensex today opened up almost 60 points at 52,919. Nifty opened a flat near the previous day’s closing level. It started trading at the level of 15819.
Sengar says that if Nifty crosses the level of 15930 then it will try to touch the psychological level of 16000. If there is a sell-off in the market and Nifty falls below 15,760, it can fall to 15,700. According to Sengar, the news of the shortage of semi-conductors can take a toll on automobile companies. Selling pressure may come on these companies today.
VIX Index gained
The Volatility Index India VIX has gained 1.65%. The strength of this index shows how much Nifty may fall on a yearly basis in the next 30 days. A rise in the India VIX from lower levels indicates an increase in movement with the market remaining firm.
On Tuesday, both BSE Sensex and NSE Nifty closed in the red mark. The Sensex was down 268 points from a record high, down 19 points (0.04%) at 52,861 points. Nifty slipped 16.10 points (0.1%) to close at 15,818 points. There was a slight decline of 0.05% in Nifty Mid Cap, but Nifty Small Cap closed with a weakness of 0.60%.
Mixed trends in Asia Market
There is a mixed trend in the stock markets of Asia. Japan’s Nikkei is down almost 1%. China’s Shanghai Composite is up nearly half per cent. Hong Kong’s Hang Seng is down 0.90%. Korea’s Kospi is trading down 0.60%. Australia’s All Ordinary has a jump of about 0.80%.
Strong opening in European markets
European markets gave a strong start on Wednesday. The UK FTSE has a strength of around 0.60%. France’s CAC is running up about half a percent. Germany’s DAX is up 0.90%. There was a mixed trend in the US markets on Tuesday. The Dow Jones closed down 0.60% while the Nasdaq was up 0.17%. The S&P 500 was down 0.20%.
FII and DII data
According to provisional data available on the NSE, on Friday, July 6, foreign institutional investors (FIIs) sold shares worth a net Rs 543 crore. That is, he had sold shares worth so much more than the number of shares he had bought. Domestic institutional investors (DIIs) had bought shares worth a net Rs 521 crore.
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