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9% fall in the Indian stock market. What should we do now?

Good Morning, Everyone, Nifty was at 18599 on 19th Oct 2021 and since then has corrected to 16912 as of date. All cues from India are positive but still, it is the FIIs selling that has brought the Nifty to this bearish phase. So what should you do now as an investor or newbie?

If you are a newbie, there is no better time than a bear market to start investing in the right stocks as we consider this as a discount sale of good stocks.

For investors, this is a turbulent phase where we have no control over the flight but by experience, we know that the flight has never crashed to date, but just had some ups and low, so let us wait for this flight to get back flying high by holding on to our good portfolio.

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Nifty closed strongly below 17000 yesterday and looks bearish, however, multiple times we have seen the range of 16700 to 17000 as strong support to the fall, hence I will continue watching this level, which if broken can lead Nifty to 16400-16500 levels.

On the higher side, we can see 17000 as a resistance for a short while.

on the daily chart, Nifty has formed a bearish candle on the daily time frame.

Index Watch:

Every index fell yesterday, and however, the Nex 50 index fell the highest yesterday down by close to 2%.

Sector Watch:

Of course, not much to discuss here, as every sector fell yesterday, majorly led by the IT sector.

Top Gainers:

The only stock in the Nifty 50 pack which closed in green was UPL.

Top Losers:

Indusind Bank, Tata consumer, and Bajaj Finserv were among the top losers in yesterday's fall.

Global Markets:

Stocks closed solidly higher on Wall Street Monday as investors shake off Omicron worries, that its risk might not be as bad as feared. The tech-heavy Nasdaq rose nearly 1 percent. The Dow Jones rose nearly 2 percent. And S&P 500 rose over 1 percent.

Asian shares were trading higher on Tuesday morning following overnight gains on Wall Street. MSCI's broadest index of Asia-Pacific shares outside Japan was up over 0.6 percent. Japan's Nikkei index rose over 1 percent. Chinese blue chips were up over 0.3 percent. South Korea’s Kospi was flat. Elsewhere, Australian shares rose 0.6 percent.

Indian Market:

Trends on SGX Nifty indicate a positive opening for the broader index in India with a gain of 84 points.

In a bid to boost foreign investment, the central government is getting ready to ease norms to expedite the approval process for Foreign Direct Investment (FDI) from bordering countries including China, sources said.

The Indian economy is showing strong signs of recovery from the devastation caused by the pandemic, with an upswing being reported in 19 out of the 22 economic indicators as compared to pre-Covid levels. High-frequency indicators (HFIs) are being monitored to track the progress of economic recovery in India since the first COVID-19 case was reported in the country in January 2020.

The latest information indicates that among 22 HFIs, full recovery has been achieved in 19 HFIs, as their latest levels in the months of September, October, and November this year are higher than their pre-pandemic levels in the corresponding months of 2019, official sources said. Among the 19 HFIs, there are some indicators whose recovery is way beyond 100 percent, such as e-way bill by volume, merchandise exports, coal production, and rail freight traffic, which suggests that not only the recovery is complete, the economic growth is now gathering momentum over the pre-pandemic levels of output.

FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 3,361.28 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 1,701.56 crore in the Indian equity market on December 6.

Stock Specific News:

Tata Motors | The company announced a price hike in the range of 2.5 percent which will be implemented from January 1, 2022, and will be put into effect across segments in the commercial vehicle space.

Indo Count Industries and GHCL | Indo count acquired the home textile business of chemical major GHCL Ltd for Rs 576 crore.

GSS Infotech | Hyderabad-based GSS Infotech acquired 'farm to store' company Polimeraas for Rs 250 crore in a stock and cash deal.

Ujjivan Small Finance Bank | The lender appointed Ittira Davis as the Managing Director and Chief Executive Officer for three years from the date of approval of the Reserve Bank of India.

Rain Industries | Pabrai Investment Funds bought a 2.05 percent stake in the company via open market transactions, increasing the fund's shareholding in Rain Industries to 8 percent from 5.95 percent earlier.

HFCL | The company launched its qualified institutional placement issue on December 6 and fixed the floor price at Rs 72.33 per share.

Tanla Platforms, Vodafone Idea | The companies have signed agreements to deploy patented blockchain-enabled Wisely Platform.

Karnataka Bank | The bank partnered with Toyota Kirloskar Motor to extend retail vehicle finance support to its customers.

Wipro | The company and Celonis launched Supply Chain Command Center to help organizations drive supply-chain transformation.

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