October 28, 2021

Aone Punjabi

Nidar, Nipakh, Nawi Soch

Corona outburst in the stock market, 5 lakh crore rupees in ashes within 30 minutes

2 min read

The market cap of BSE listed companies came down to Rs 200 lakh crore. India VIX, which is also a pulse of the market due to investors’ nervousness, rose 10.41 per cent to 22.52 per cent.

  • Highlights:
  • Investors lost Rs 5.27 lakh crore in the first half-hour.
  • BSE listed companies market cap falls below Rs 200 lakh crore.
  • India VIX too rose by 10.41 per cent to 22.52 per cent.

The Indian stock market has not performed well in the past week. Investors were worried about Corona’s fast-growing cases. On Friday, the market closed with a slight upside amid considerable volatility. The benchmark indices BSE Sensex and NSE Nifty had strengthened around 0.15% amid good signals from overseas markets.

Investors will be constantly watching the growing cases of Corona. The fourth-quarter results will also have an impact on the market. Carefully investing in stocks with strong fundamentals can be a good option.

What is happening in foreign markets?
The markets of Asia are showing mixed direction. Japan, Thailand and South Korea markets are booming while markets in Hong Kong, China and Taiwan are in the red mark.

The US’s S&P 500 and the Dow Jones Industrial Average (DJIA) index gained nearly 0.4% in the last trade. Singapore’s SGX Nifty, which gave the initial signal for the Indian market, is trading flat at 14,445.00 with a fall of 1.34% at 7:20 am.

Keep these things in mind in the market too-
Foreign institutional investors (FIIs) bought 437 crore shares in the market on 16 April. 657 crore stocks bought by domestic institutional investors (DII).

According to Moneycontrol, there are 14,551.97 and 14,486.13 support levels for the Nifty on April 19, due to which the index may break after going down. Similarly, there are 14,690.67 and 14,763.53 resistance levels, due to which the Nifty can get a jump by reaching the top.

On April 16, Aspire Emerging Fund sold more than 4 lakh shares of GSS Infotech at a rate of Rs 58.13 per share in the bulk deal.

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