On Wednesday, Sensex, Nifty ended down with heavy selling pressure witnessed across sectors.
On Wednesday, Sensex, Nifty ended down with heavy selling pressure witnessed across sectors. Nifty ended the day 44 points lower at 11,234 levels with broad-based selling pressure witnessed across all sectoral indices.
Stocks from the Anil Dhirubhai Ambani Group (ADAG), such as Reliance Infra, Reliance Capital, and Reliance Communications, added heavy open interest, which consisted mainly of short positions. The HDFC twins contributed to ~50% of the fall in Nifty, with both stocks adding fresh short positions. The market breadth ended in favor of the declines with the advance/decline ratio ending at 2/5x.
Meanwhile, Indian rupee closed the yesterday’s session at all time low of 72.98/$, 47 paise down against the US dollar. This is mainly due to increasing crude oil prices and an escalating trade war worry.
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