Following a flat opening, the Nifty was volatile throughout the day ending in a negative close on Monday.
For investors, the market is buys on dips with a strict stop loss of 19500, and if the Nifty closes below the indicated level, we can expect more profit booking, says Deven Mehata, Equity Research Analyst, Choice Broking.
The market has traded negative with the Sensex losing 0.45 percent and closed at 66384.78 and Nifty was down by 0.37 percent intraday and closed at 19672.35 levels whereas Bank Nifty was down by 0.33 percent and settled at 45923.05, he said.
Among sectors Nifty Auto and Nifty Pharma and Nifty PSE ended in green while Nifty Metal, Nifty FMCG and Nifty Consumption ended on the lower side.
In Nifty stocks, Indusind Bank, M&M and Dr Reddy Labs were the top gainers while ITC, Kotak Mahindra Bank and Reliance were the prime laggards, he said.
Vinod Nair, Head of Research at Geojit Financial Services said volatility has re-emerged as initial Q1 results are below the expectations.
Sector wise setbacks were experienced in IT and FMCG, unveiling weak demand and high input costs. Banks are mixed while Pharma stocks are withholding the volatility in anticipation of a better demand from developed economies, reduction in US pricing issues and expansion in operating margins, he said.
Investors are also watchful of the upcoming FOMC meeting, addressing rate hike and quantitative tightening measures, which could have an implication on FIIs inflows.
S Ranganathan, Head of Research at LKP Securities said as expectations are getting reset in sync with the first quarter earnings that are underway, we witnessed profit booking post earnings and news flows today in heavy weights as well as financials. Investors need to be mindful of cuts in stock prices if eventual outcomes on earnings fail to match up with expectations.
Tripura CM Dr Manik Saha to lead high-level task force for investment promotion in NE India
In a significant development of the Prime Minister Narendra Modi’s dream of making India – Viksit Bharat by 2047, the Ministry of Development of North East Region (MDoNER) has appointed Tripura Chief Minister Dr Manik Saha as the Convenor of the High-Level Task Force for investment promotion in North East region of the country.
In a first, 9 Tripura youths get nursing caregiver jobs in Japan
For the first time, nine youths from Tripura have got jobs in Japan as nursing caregivers and 60 more candidates would go to the East Asian country in the next financial year (2025-26) for work, officials said here on Saturday.
108-year-old Tripura Palace to turn into 5-star hotel; deal signed amid protests by allies, Oppn
Despite vehement protests by the ruling BJP's ally Tipra Motha Party (TMP) and the Opposition, the Tripura government on Friday signed an agreement with the Indian Hotels Company Ltd. (IHCL) to make the 108-year-old Pushpabanta Palace in Agartala a 5-star hotel.
Tripura CM tells police, lawyers to increase conviction rate
Tripura Chief Minister Manik Saha on Friday asked the top police officers, law enforcement agencies, lawyers, and other stakeholders to take all steps to increase the conviction rates.
Govt working to develop Bankul as most attractive tourist spot in Tripura: CM Dr Manik Saha
Chief Minister Dr Manik Saha on Thursday inaugurated the 78th Bankul Mahamuni festival of the Buddhists community in the Buddha temple at Sabroom Manubankul and said that the government has taken initiative to develop Bankul as one of the most attractive tourist spots of the state.
PM Modi led Govt given special importance to socio-economic development and self-empowerment of women: CM Dr Manik Saha
Chief Minister Dr Manik Saha on Thursday inaugurated the state level celebration of the International Women’s Day here at Agartala Rabindra Satabarshiki Bhavan and said that the government has given special importance to the socio-economic development and self-empowerment of women of the country.
THRC seeks report from DGP over FIR refusal
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Outrage over puppy killing video, Minister orders arrest
A harrowing case of animal cruelty in Tripura’s Khowai district has triggered widespread outrage after a disturbing video of a youth brutally killing a puppy surfaced on social media.