A morning walk down Dalal Street | Strength in market possible only if Nifty closes decisively above 11,600
Episode 1436, Jul 15, 2019, 01:30 AM
Bears continued to maintain their hold on the D-Street for the second consecutive week, but closed above 100-days exponential moving average (EMA).
It witnessed selling pressure around the 5-day EMA placed around 11,600 levels. The index retested 11,600 levels thrice in the week gone by.
Investors lost over Rs 3 lakh crore in just five trading sessions. The average market capitalisation of BSE-listed companies fell from Rs 151.35 lakh crore recorded on July 5 to Rs 148.08 lakh crore seen on July 12, which translates into a fall of Rs 3.27 lakh crore.
Some of the index stocks which witnessed a decline include names like TCS, HDFC Bank, Nestle India, Maruti Suzuki, L&T, Titan Company, ICICI Bank, State Bank of India, Bharti Airtel, Wipro, Tata Motors, etc. among others.
The S&P BSE Sensex fell 1.97 percent while the Nifty50 saw a decline of 2.1 percent, compared to 2.58 percent fall seen in the S&P BSE Smallcap index and about 1.17 percent downtick witnessed in the BSE Midcap index.