Market update: Market closed in red mark amid volatility, IT stocks fell the most

S Choudhury
28/09/2021 15:52 IST
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Today on Tuesday, volatility dominated the market throughout the day. Markets open in the green mark in the morning were closed in the red mark in the evening. The Sensex closed at 59667.60, down 410.28 points. At the same time, Nifty closed at 17,748.60 with a decline of 106.50 points.

Today on Tuesday, volatility dominated the market throughout the day. Markets open in the green mark in the morning were closed in the red mark in the evening. The Sensex closed at 59667.60, down 410.28 points. At the same time, Nifty closed at 17,748.60 with a decline of 106.50 points.

Today the market started with an edge but during the trading day profit-booking dominated the market. In today's business, trading was also seen with pressure in small-medium stocks. BSE Midcap index closed with a decline of 0.71 percent and Small-cap index 0.62 percent.

What is the reason for the fall in the market

A stock market analyst said, the US 10-year bond yield has increased, which is not good news for an emerging market like India. Especially if this trend is seen to continue even further. Apart from this, international oil benchmark Brent crude also rose about 1% to $ 80 on Tuesday, which will have a negative impact on the Indian scenario.

IT stocks have given a return of around 82% this year, he said. In such a situation, profit booking is being seen in this segment. Apart from this, investors are also closely monitoring developments related to Chinese real estate company Evergrand. Investors fear that the energy crisis in China could affect its growth, which could have an impact on the stock markets around the world. Goldman Sachs recently reduced the growth forecast of China, the world's second largest economy.

However, some stock market experts are also seeing the fall in the Indian stock market as a good sign. An expert said that the Indian stock market has seen a lot of momentum in the recent past as compared to other emerging markets. In such a situation, it becomes necessary to have some profit booking in them. Festive season is about to start. In such a situation, volatility will remain in the market. During morning trading, Nifty Volatility Index was trading with a gain of 2.7% today.


Category: Business

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