Overvalued India, China Crackdown, US Tapering: What Moved Markets Today

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Overvalued India, China Crackdown, US Tapering: What Moved Markets Today
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- It was another day of volatile markets and late buying that saw Nifty and the BSE Sensex end flat. Both indices closed up less than 0.1% each. Market analysts say that signs of correction are growing stronger after one of the steepest rallies in history. There can be a correction in large-cap stocks. Nifty stocks that gained today were ONGC (NS: ONGC ), Bharti Airtel (NS: BRTI ) and Nestle (NS: NEST ) India which moved up over 2.5% each.

Stocks that lost the most were SBI (NS: SBI ) Life Insurance Company Ltd (NS: SBIL ), down 3.77%, and HDFC (NS: HDFC ) Life Insurance Company Ltd (NS: HDFL ) and Titan (NS: TITN ) which lost over 1% each. China took another swipe at its gaming industry, sending the shares of Tencent Holdings and NetEasetumbling in Hong Kong and in the US premarket session. In Asia, Nikkei 225 lost 0.57%, KOSPI 50 closed down 1.53% while Shanghai Composite gained 0.49% today. US stocks are set to extend their losses on the growing awareness that the day when the Federal Reserve will start to withdraw its stimulus is drawing nearer.

New York Federal Reserve President John Williams – one of the most dovish regional Fed presidents this year – said on Wednesday that he still felt a tapering of bond purchases could start this year, and his Atlanta Fed counterpart Raphael Bostic echoed those views in an interview early Thursday. As of this report, Dow Jones futures were down 95 points, or 0.3%, while S&P 500 futures were down by a similar amount and Nasdaq 100 futures were down by 0.2%.

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  • A K Gamer @A K Gamer
    The True Picture about China and India is now starts showing why the big Hedge Funds want to make profits by selling the equities.
    Like 0
  • sudhir kumar @sudhir kumar
    Dear investing please publish more on this fake upmove in india, all analyst in india misleading us . Thank you for telling the truth.
    Like 4
  • sudhir kumar @sudhir kumar
    USA 15 trillion economy market at 35000 , india 3.5 trillion exonomy market at 58000 thats called overvalued
    Like 3
    • dinesh gupta @dinesh gupta
      @sudhir kumar  , sir so confident on your valuations then why not short sell..  india growth story intact... will eep seeing new highs, darvas.in
      Like 4
    • Sridhar N Rao @Sridhar N Rao
      Hi, the indices cannot be compared directly. An index in weighted number of price and volumes and certain multiplication factors. Bit we can take a base year and compare the % change in index with the % change in GDP off the country. Such a comparison is also not perfect but OK for our purpose.
      Like 0
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  • Jaspal Singh @Jaspal Singh
    who said india overvalued? correct yourself its not overvalued
    Like 3
    • Akshay Kumar @Akshay Kumar
      @Jaspal Singh Dear Jaspal, Correct yourself first, Indian stock market is overvalued not INDIA. India has great potential for growth no doubts, but India stock market should correct asap else it will a disaster for retail investors. Thanks
      Like 0
    • Jaspal Singh @Jaspal Singh
      check nifty pe ratio
      Like 2
    • Ashish Choudhary @Ashish Choudhary
      Did you?
      Like 0
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  • Vivek P Chotaliya @Vivek P Chotaliya
    what to buy/hold in this type of market
    Like 0
  • Vivek P Chotaliya @Vivek P Chotaliya
    what to buy in this type of market
    Like 0
    • Jayesh Nirgude @Jayesh Nirgude
      oversold stock you have to find
      Like 0
    • Lucifer Morningstar @Lucifer Morningstar
      short selling is better in these type of markets
      Like 1
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  • Tejas Patel @Tejas Patel
    Nifty will fell down to 14500-15000 by September’21 end.
    Like 2
    • Ranvir Joshi @Ranvir Joshi
      Hi Tejas, is this your gut feeling or any data around it ? Please advise.
      Like 1
    • Ajit Pardeshi @Ajit Pardeshi
      bullshit
      Like 0
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  • Siddhant Swami @Siddhant Swami
    And now Nifty will cross 20000
    Like 0
    • Ranvir Joshi @Ranvir Joshi
      Ah that would be dream but it seems to be extremly dificult to move further until market corrects.
      Like 0
    • Indra Rouriya @Indra Rouriya
      @Ranvir Joshi I m sure you would have said same things when market was at 9k, 10k, 11k after covid recovery... This is market.. nobody really knows when will it correct.. may be first it goes 20K then corrects or first it comes down to 15, 16k then goes upFYI till now from 8600 to 17400, no correct
      Like 0
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  • Raju Sunuwar @Raju Sunuwar
    and the fall began
    Like 0
  • Tarang Shah @Tarang Shah
    over valued? ULTRA over valued!! people are just MAD
    Like 4
    • Girish Darji @Girish Darji
      one big gap down will trap all new people they don't know what is sell off ..
      Like 0
    • Ranvir Joshi @Ranvir Joshi
      @Girish Darji Hello Girish, can you please elaborate the technique of Sell Off. I am also a new investor in the market.
      Like 0
    • Akshay Kumar @Akshay Kumar
      Big GAP DOWN will not happen until shot selling restrictions are there.
      Like 0
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