3 weeks ago

Sensex, Nifty Fall Nearly 0.5% as Cement, FMCG Stocks Drag

Sensex, Nifty Fall Nearly 0.5% as Cement, FMCG Stocks Drag
Sensex Falls 388 Points, Nifty Slips 112 Points as Cement, FMCG & Realty Stocks Drag · freepressjournal.in

In India, there is a big market where people buy and sell shares of companies.

On Tuesday, two important lists of company shares called the Sensex and the Nifty went down a little.

They fell because people were selling shares of companies that make cement, food and everyday goods, and buildings.

Investors were also worried because the United States and Iran were talking but their talks seemed stuck, which can affect oil and energy prices.

Some well-known companies, like Tata Consumer Products, Max Healthcare and UltraTech Cement, saw their shares drop a lot.

But not everything went down.

Shares of medicine companies went up, and smaller company shares also did well.

Experts are watching an important number from the United States called the CPI, which tells us about prices and inflation.

That number is coming on Wednesday and could change how investors feel.

Key facts

Sensex close
78,154.25 (down 388.19 points / 0.49%)
Nifty close
24,471.70 (down 112.10 points / 0.46%)
Top losing sector
Nifty Cement, followed by FMCG, Realty and Metal
Top gaining sector
Nifty Pharma
Nifty support level
24,400, with 24,300 as a possible downside target
Nifty resistance level
24,500, with stronger hurdle at 24,600–24,700
Top Nifty losers
Tata Consumer Products, Max Healthcare Institute, UltraTech Cement
Key event to watch
US Consumer Price Index (CPI) data due Wednesday

Quotes

Market expert

Financial market analyst

“On the upside, 24,500 is likely to act as the immediate resistance, having shifted from a key support level.”
thehansindia.com

Sources

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