As we discussed in the pre-market report, Markets I had told you that if 15750 was broken, then we might see some downfall and that's exactly what happened in the market today. What led to that fall is the European market.
The market opened with a gap up and continuously went up till noon and as soon as European markets opened at noon, and started falling due to Corona delta variant concerns & rising inflation levels, we could see the same reflection in Indian markets too. As I always say, markets are funny at times, and that's exactly what happened today.
The only sector to end the day in green was IT, every other sector fell and this might have led to your portfolio turning red today. Nothing to worry about, this is a temporary phase and we will soon get to see a bull run is what I feel.
Reliance supported the day, as we could see Reliance as the second-highest gainer, which supported the markets from further fall. Also as we have been seeing for the past few weeks, Wednesdays (A day before weekly expiry) have been really volatile and Thursdays have become soberer. Let's see how this week's expiry goes.
"...CIL is committed to achieving a carbon offset of more than 60,000 tonnes by the end of this year which will be a major breakthrough," the coal ministry said in the statement.
To reduce carbon footprint in its operational area, CIL has put a special thrust on energy efficiency measures and is forging ahead with a series of measures to offset carbon emission in mining operations in all its coal-producing companies. This led to Coal India being the top gainer today.
Banks were among the top losers for the day and we can see multiple bank stocks on the list, along with Sree cem, Bajaj finserv, Powergrid, and UPL.
That's it, for now, team, let's meet tomorrow with the Pre market report to see what we can expect tomorrow.
- Srikant Rajan