A morning walk down Dalal Street | Traders need not get unduly perturbed; bulls may make a comeback
Episode 1625, Aug 30, 2019, 01:30 AM
Nifty closed August series with a loss of 2.7%.
Nifty Future rollover stood at 55 percent for September series compared to 73% seen in the August series.
The index broke below crucial support placed at 11,200, 11000 levels. Selling pressure extended in the last one hour of the trading session which pushed the index below 10,950.
The final tally on D-Street – the S&P BSE Sensex fell 383 points to 37,068 while the Nifty50 closed 97 points lower at 10,948.
What is causing the panic? Expiry led volatility and risk-averse sentiment of investors across the globe pushed the Nifty below 11,000 level. Volatility in the currency market is also one factor which is keeping investors at bay for now.