Share markets in India have erased all the early gains and are presently deep in the red.
Benchmark indices opened higher tracking the trend on SGX Nifty and following support from positive global markets.
However, benchmark indices saw a sharp fall and the weakness spilled across broader markets as well.
The reasons behind this fall could be rising crude oil prices and the US-China tensions.
Crude oil prices rose today, bouncing off multi-month lows in the previous session caused by data signalling weak US fuel demand.
— Advertisement —
Our Mega Summit Goes LIVE at 5pm Today
This is your last chance to register for the One Stock Crorepati summit.
Today at 5pm, India’s leading smallcap guru, Richa Agarwal, is going to reveal the 5-Minute Blueprint for Becoming a One Stock Crorepati.
Please note, there may not be any replays available for this one-time MEGA Summit.
Thus we urge you to save your seat now.
Click Here to Reserve Your Free Seat
Meanwhile, starting today, China has said that it will carry out five days of “necessary and just” military drills in the seas around Taiwan following US House Speaker Nancy Pelosi’s trip to the island.
The Chinese Foreign Ministry also summoned the US ambassador to China, Nicholas Burns, on Wednesday to protest Pelosi’s visit as a “serious provocation and violation” of the one-China principle.
In opening trade today, the BSE Sensex rallied as much as 350 points while the broader NSE Nifty topped 17,490-mark.
Broader indices also came under pressure as the BSE midcap and smallcap index fell 1%.
Majority of sectoral indices were trading in green in the morning, but the case is exact opposite now.
— Advertisement —
Automobile Sector’s Colossal Disruption Could Make You a Fortune
During any major disruption in a sector, fortunes are created.
And now, we are at the cusp of a major disruption that the automotive sector will experience.
It is the electric vehicles gold rush.
At Equitymaster, we have unearthed a hidden way to ride the 15x EV opportunity so that you could take home potentially life-changing gains in the long run.
Meanwhile, another Adani group company Adani Power hit its 52-week high after it reported a 16-fold jump in consolidated net profit.
Check out these fast growing smallcap stocks with zero debt that have consistently reported increasing revenues and profits.
Speaking of stock markets, Chartist Brijesh Bhatia shares how to select the best penny stocks for 2022, in his latest video for Fast Profits Daily.
Penny stocks have been a rage in the stock market for the last two years. Despite all the volatility in these stocks, they remain very popular.
In this video, Brijesh explains in detail how he goes about identifying multibagger penny stocks using charts.
More details to follow in the upcoming commentary.
For information on how to pick stocks that have the potential to deliver big returns,
Indian Share Market Update: Top Gainers and Losers
What else is happening in the markets today? Dig in…
#Indian #Stock #Market #News #Equity #Market #Sensex #Today #India
( With inputs from equitymaster)