Mumbai:
Indian equity opened in red color this morning, a day later, a record rally was seen in the markets due to major geopolitical development, in which India and Pakistan agreed to attack a ceasefire and the US and China trade deal.
The benchmarks were already below pre-market hours, losing more than 400 points. Damage expanded over time. Sensex, which represents the top 30 companies listed with the Bombay Stock Exchange, was below 800 points at 10 am. NSE Nifty50 lost 200 points in the first hour.
Heavyweight Sensex packs such as Infosys, Eternal (ZOMATO), and HCL Tech were tops, while Sun Pharma, Tech Mahindra, and SBI were among the bank beneficiaries.
Experts suggest that the benchmark will be consolidated after Monday’s increasing profit. It is estimated that the head of Prime Research in HDFC Securities, Devash Vakil, said that the buyer interest will continue in small and mid-cap shares at the lower level.
Hardik Matalia, derived analysts, choice broking, advised traders to avoid big positions overnight and apply tight risk control due to current global uncertainties.
Most Asian stock markets were also trading in green, including Tokyo, Bangkok, Seoul and Shanghai. Only Hong Kong was in red color.
On the previous day, there were more than 3.5% rallies in the markets, with the sense of about 3,000 points. The Nifty added another 917 points. Even Asian shares performed well and contributed to global gains.
Later in the evening, the US markets recorded a concrete growth as two economic superpowers appeared to be retreating from a punished trade war. Dow Jones Industrial Average increased by 2.8% while S&P 500 increased 3.3% and the tech-centric nasdac composite index increased to 4.4%.
