Stock market update: Sensex and Gift Nifty topple down to start with losses

by Psu Connect
Date: 02-01-24

The Indian stock market has lost its green trending continuity by sustaining over two straight sessions losses dragged by banking and IT stocks' red trade. The BSE Sensex falls to 400 points whereas Nifty is floating below 21,650.

Stock market update: Sensex and Gift Nifty topple down to start with losses

The recent perspective built up by the stock market exchange was in profit context concerning declining dollar and US bond yields, which significantly provides a favourable situation for future investments. The Foreign portfolios have also gained a large volume of momentum while trending in the green session, approximately crossing over $6 billion as per recent data.

The previous month's recent crossover of 1000 points by Gift Nifty has strongly increased the current trading investment. Meanwhile, it is cautious to observe an important trending spike in the market indices showing strong volatility.

Gold prices rose on Tuesday, where spot gold was up 0.5 percent at $2,071.99 per ounce, while US gold futures also gained 0.5 percent to $2,081.00 per ounce. The cryptocurrency mammoth Bitcoin has also surged to cross $45,000 mark on Tuesday, for the first time since April 2022. The second largest crypto, Ethereum rose to 4.9 percent to $2,386.

Yesterday, the BSE Sensex rose to 32 points or 0.04 percent to settle at 72,272, while the Nifty 50 gained 10 points or 0.05 percent to end at 21,742. The current trend is showing a low volatile situation with a loss of 0.3 percent overall. The Asian trade and foreign investments are not holding enough potential to uplift the market session.

The domestic currency is undermined in the range between 83.0-82.0 against US dollar.