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Indian Stocks Fall, Volatility Rises as Sensex, Nifty Extend Losses
Indian share prices fell on Monday afternoon.
The Sensex and Nifty, which measure how many large Indian companies are doing, both declined.
The Sensex lost 485 points, while the Nifty lost 146 points.
The India VIX, a measure of expected market movement, increased by more than 6%.
This means investors expected more price changes over the next month.
Several large companies, including Infosys and Tata Steel, were among the stocks reported to be falling.
An analyst said the Nifty could find support near 23,650 and the Sensex near 75,700.
Brent crude oil was trading close to $98 per barrel.
India VIX rose 6.17% to 11.34 from the previous close of 10.68.
At 1:08 p.m. Monday, the Sensex fell 485 points to 76,033 and the Nifty dropped 146 points to 23,752.
The market capitalization of Bombay Stock Exchange-listed companies declined to Rs 486.19 lakh crore.
Infosys, Tech Mahindra, Trent, Tata Steel, HCL Technologies and Tata Consultancy Services were among the stocks reported as falling, by up to 3.56%.
SBI Securities analyst Sudeep Shah identified support at 23,650 for the Nifty and 75,700 for the Sensex, while Brent crude traded near $98 per barrel.
- Who
- Indian stock-market investors, companies listed on the Bombay Stock Exchange, and SBI Securities analyst Sudeep Shah.
- What
- The Sensex and Nifty extended their losses while India VIX rose 6.17%.
- Where
- The Indian stock market.
- When
- Monday, at 1:08 p.m. for the reported index levels.
- Why
- The article attributed the decline to subdued market sentiment; it did not identify a specific cause.
Key facts
- India VIX
- 11.34, up 6.17% from 10.68
- Sensex
- Down 485 points to 76,033
- Nifty
- Down 146 points to 23,752
- BSE-listed market capitalization
- Rs 486.19 lakh crore
- Nifty support and resistance
- Support at 23,650, with resistance at 23,900 and 24,050
- Sensex support and resistance
- Support at 75,700 and resistance at 76,500
- Brent crude
- Trading near $98 per barrel
Quotes
Sudeep Shah
Head of Technical and Derivatives Research at SBI Securities
“The frontline indices began the week on a weak note, slipping to their lowest levels in more than six weeks amid subdued market sentiment.”
businesstoday.in
“Speaking of Sensex levels, support is at 75,700 while resistance is at 76,500.”
businesstoday.in
Sources
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