Share Market News Today | Sensex, Nifty, Share Prices LIVE: Bears continue to dominate Dalal Street, forcing benchmark indices to close with losses on Wednesday.
HDFC Bank said that Real GDP will grow 9.4% in the financial year 2021-22 and decelerate to 7.5% for the fiscal year 2022-23 as the base effects result in the higher growth in the ongoing fiscal wear-off.
“Volatility is expected to be on the higher side and although we continue to remain bearish on the market, it would be difficult to take a call whether we would break the sacrosanct support of 17200 tomorrow itself.
“On November 24, 2021, Foreign institutional investors have done net selling worth Rs 5,122.65 crore, while domestic institutional investors have done net buying worth Rs 3,809.62 crore in the Indian equity market.
“Nifty failed to move above 17600 zone & witnessed profit booking so going forward also strong hurdle will be 17600 zone and prior to that 17500 zone, immediate support is coming near 17350-17300 zone for strength index to need to decisively crossed above 17600 zone,” he added.
“The news of the COVID situation worsening globally has started weighing on the sentiment along with the inflation fear.
After showing a sustainable upside bounce on Tuesday, Nifty witnessed sell on rise action on Wednesday and closed the day lower 88 points.
“The Gasification project at Jamnagar was set up with the objective to produce syngas to meet the energy requirements as refinery off-gases, which earlier served as fuel, were repurposed into feedstock for the Refinery Off Gas Cracker .
“The short term trend of Nifty continues to be down and there is no confirmation of any significant bottom reversal at the lows.