1. Why is Indian stock market down today?
Indian stock market today was down on weak global cues, profit booking, and mixed corporate earnings released for Q2. Investors sentiment is cautious ahead of macroeconomic data releases and US Federal Reserve rate cuts.
2. Which sectors performed the worst in stock market today?
Both the Banking and IT sectors experienced the most selling pressure today. The Nifty Bank index was down 0.20%, while Nifty IT was down 0.12%. The broad markets also followed a similar pattern of trading, with small-cap performance lagging.
3. What were the biggest gainers and losers on Nifty 50?
Eicher Motors was the biggest gainer, up 2.36%, followed by ITC and State Bank of India. On the other end, NTPC was down 2.33%, Max Healthcare was down 2.21%, and Cipla lost almost 2%.
4. How did Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) influence the direction of the market?
FIIs sold equities worth Rs. 3,077.59 crore, while DIIs were purchasers to the tune of Rs. 2,469.34 crore. The action of DIIs did establish a cushion from the fall of the market, but it did not completely neutralize the sell inclination from FIIs.
5. What is the outlook for the Indian stock market for next week?
Analysts expect volatility to remain an absolute given as investors digest the global economic picture along with data on inflation and upcoming updates on earnings seasons. The direction of the market can be determined from foreign inflows of equity capital into the Indian market along with cues from the Reserve Bank of India (RBI) on monetary policy.
