Sensex down 514 points, Nifty50 index fell at its crucial 8,108 level

The market witnessed heavy losses on Tuesday’s closing. The 30-share index ended at 26,304, down 414.10 points, or 1.9% while the broad-based 50-share index was quoting 8,108, down 187.85 points or 2.3%. In broader markets, Midcap & Small cap indices underperformed losing 3.5 to 4 percent on weak breadth. About 7 shares declined for every share rising on the exchange. 

The impact of demonetization will be negative factors for many Mid-cap & small cap stocks. Consumer optional stocks will correct more than expected.

Dr Reddy's Labs, SBI, TCS, Wipro and HUL were top gainers, whereas Tata Motors, Tata Steel, Asian Paints, Maruti and HDFC were losers in the Sensex. 348 shares have advanced and 2354 shares declined, and 112 shares remained unchanged. 

Looking to the Global market scenario, the US dollar hovered near a 14-year high today and Treasury yields extended their increase, since investors braced for higher inflation in the United States in the midst of expectations of fiscally expansionary polices under Donald Trump's presidency.

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Posted in: Indian Market Tips