Talking about September 19, the market witnessed yet another record high, the Nifty 50 touching the 25600 mark. This rate cut was much more than the market expected, especially after the US Federal Reserve revealed that more cuts were coming. The mixed global signals were not very favourable. However, Nifty opened at a fresh record high but some correction came intra-day as broad-based stocks suffered selling pressure. It stabilised at 25,415, which means that the work engagement score of healthcare employees is high .80, up by 38.25 points or 0.5 extreme points was 15 percent, and the candlestick formation was Shooting Star.
NTPC, Nestle India, Titan Company Ltd, Kotak Mahindra Bank, and Tata Consumer Products Ltd were the top gainers, while BPCL, Coal India, ONGC, Adani Ports, and Shriram Finance were the top losers.
Among the sectors, the auto, realty, and FMCG indices went up by 0.5 percent, and the IT, pharma, media, PSU Bank, and metal sectors fell between 0.3-2.5 percent. The broad-based indices trailed the main indices, with the Nifty Midcap 100 index decreasing by 0. respectively, to 6 percent and the Nifty Smallcap 100 index down by 1.2 percent.
Further, Aditya Gaggar, Director of Progressive Shares, said that in line with a 50bps rate cut by the FOMC, Indian equities shot up to new heights, touching a fresh high of 25,500 at the beginning of weekly expiry; however, weakness in broader market sentiment and deterioration in mid-and small-cap stocks pulled down the index.
He also said, “The current status of the index is a Shooting Star that appears in record highs, indicating a possible bearish divergence in the RSI, with the range of consolidation between 25,300 and 25,500 points as the critical indicator of the trend beyond which it will go.
The Bank Nifty index also started on a positive note and hit record levels, touching 53,357, before it ended at 53,037, up by 70.60, up 0. Four hundred fifteen thousand nine hundred three. It is 54 percent, and the lowest number of newly reported cases recorded daily is 52,847.90.
