Stock Market News: The domestic benchmark indices, the Sensex and Nifty 50, started off Monday’s session on a positive note, led by financials following post-results gains in SBI Life Insurance and ICICI Bank.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, states that the persistent selling by FIIs, which is brought on by the rising US bond rates, is still the main cause of the market’s negative sentiment. As long as US bond rates are high—a decision that is made by US inflation data—this selling by FIIs in both stock and debt will continue to have an impact on the markets.
Following a five-day surge, the Sensex and Nifty 50, buckled under selling pressure on Friday as investors reduced their exposure to banking, and financial stocks amid mixed global cues.
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According to reports, traders stated that continuing outflows of foreign funds, a falling rupee, and rising global crude prices further weighed on sentiments.
On Friday, the 30-share BSE Sensex closed at 73,730.16 level, down 609.28 points, or 0.82%. The NSE Nifty 50 ended at 22,419.95, down 150.40 points, or 0.67%.
Senior Vice President of Master Capital Services Ltd, Arvinder Singh Nanda said that the key domestic and global economic statistics will have an impact on the market’s trajectory. The Fed Interest Rate Decision, the China Manufacturing (PMI), the Euro…
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