2 Reasons Why Nifty and BSE Sensex Fell Today

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2 Reasons Why Nifty and BSE Sensex Fell Today
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Nifty and the BSE Sensex closed lower today losing 1.04% and 1.25% respectively. The markets lost the optimism they displayed yesterday as Housing Development Finance Corporation Ltd (NS: HDFC ) and HDFC Bank Ltd (NS: HDBK ) fell 3.9% and 3.82% respectively. Power Grid Corporation of India Ltd (NS: PGRD ) and Coal India Ltd (NS: COAL ) also lost over 2% each.

  1. Profit booking in IT: The IT index closed lower by 1.02% today as markets booked profits. Oracle Financial Services Software Ltd (NS: ORCL ) lost 4.7% while MindTree Ltd (NS: MINT ), Tech Mahindra Ltd (NS: TEML ) and Larsen & Toubro (NS: LART ) Infotech Ltd (NS: LRTI ) lost over 2% each. Infosys Ltd (NS: INFY ) dropped 1.3% and Wipro Ltd (NS: WIPR ) lost 0.93% today.
  2. Global Cues: The dollar index is getting stronger and US bond yields are high. Asian stocks closed lower today as Japan’s February factory numbers were down. Nikkei 225 closed down 0.86%, KOSPI 50 0.28% and the Shanghai Composite was down 0.43%. Markets will likely wait for US President Joe Biden’s speech today where he will unveil his $2.5 trillion -$3 trillion infrastructure plan. However, it is expected that he will also raise taxes. US futures are trading mixed with Dow Jones 30 Futures down 0.12%, S&P 500 Futures trading flat and Nasdaq 100 Futures up 0.5%. In Europe FTSE 100 and CAC 40 are down 0.3% and 0.21% respectively while DAX is trading flat before Biden’s speech.

While markets have fallen, sectors like Nifty FMCG and metals have done well. Experts say both sectors will continue to throw up select buying opportunities. ITC Ltd (NS: ITC ) gained 1.51% today in the FMCG space while Tata Steel Ltd (NS: TISC ) closed up 2.3%. Investors would do well to keep an eye out for good buys.

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  • sanket sadan @sanket sadan
    101% the market will open Gap down ,because its 1st expiry of the annual year 2021-22.. it will be up in first session while closing will be down side... be ready at 2.30 to 3.15 to see the fall..
    Like 4
    • hrishikesh more @hrishikesh more
      @sanket sadan think like operator
      Like 0

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  • sanket sadan @sanket sadan
    101% the market will open Gap down ,because its 1st expiry of the annual year 2021-22.. it will be up in first session while closing will be down side... be ready at 2.30 to 3.15 to see the fall..
    Like 0
  • ROHAN DAMSE @ROHAN DAMSE
    markets are high a new financial year now start from 1 April so market are bullish from tomorrow
    Like 0
  • piyush patel @piyush patel
    sb pagal bna raha hai buy it stocks hcl etc
    Like 0
  • Rakesh Prasad @Rakesh Prasad
    Next three day is holiday so why to held up the money in the market and spoil the holiday , so bear out run bull. So market fall.
    Like 2
  • Prakash M Patel @Prakash M Patel
    I think profit booking only  reasons for market falls.
    Like 1
  • Sreejith Rajeev @Sreejith Rajeev
    no one knows the exact reason of market fall. analysts think market falls because of these reasons but it's not like that.
    Like 2
    • Shriniwas Shinde @Shriniwas Shinde
      90℅ Indians see all the time at Dow Jones futures, just follows the trend, if American market goes up, Indians start buying, if does down they start selling.
      Like 1

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  • F.M. Lakhani @F.M. Lakhani
    Many innocent traders / investors are misguided with writting like this! Yesterday's reason too was fake .
    Like 7
    • mahesh gundeti @mahesh gundeti
      u r absultly correct
      Like 0

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  • SANTOSH HANCHANALE @SANTOSH HANCHANALE
    tommorow banknifty target
    Like 2
    • MEER MOHD Khaled @MEER MOHD Khaled
      33400 terget550
      Like 2

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  • Tushar Jagad @Tushar Jagad
    Yesterday also bond yeild was high then why market didnt fall ??
    Like 9
    • Random Video @Random Video
      @Tushar Jagad they just write what they think! if they knows everything then they will become warren buffet too! its all about a anticipation and prediction!
      Like 1

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