Stock Market LIVE Updates: IndiGo Drops Over 7.5%, Nifty IT Falls Near 300 Points
The Indian stock market is witnessing a downturn today, with the Nifty index dropping over 140 points and the Sensex falling by more than 350 points. The market is under significant pressure, with several key stocks experiencing substantial declines. Some of the biggest losers include IndiGo, Bharat Electronics, Bajaj Finance, Bajaj Finserv, JSW Steel, and Nestlé, among others.
The Nifty index, which had received a boost from the Reserve Bank of India (RBI) rate cut, is now down nearly 100 points, falling below the 26,100 mark. The Sensex has also dropped below the 85,500 mark, closing in on a 300-point loss. The 20-day moving average (20-DMA) on the Nifty, around 26,000, is a crucial level to watch on the downside.
Despite the overall market pressure, there is some stock-specific activity. Suzlon Energy shares are showing positive movement after Motilal Oswal projected a 43% upside for the company. This optimistic outlook is providing some relief in an otherwise challenging market environment.
Among the Nifty 500 stocks, some of the biggest losers include Reliance Power, Honsasa, Aditya Birla Real Estate, IndiGo, Kaynes Tech, Datta Patterns, and Deepak Fertilizers. These stocks are experiencing significant declines, contributing to the overall market volatility.
Today also marks important events in the Indian IPO market. The allotments of Meesho, Vidya Wires, and Aequs IPOs will take place, while the IPOs of Corona Remedies and Wakefit Innovations have opened for subscription. Investors are closely watching these developments, as they could provide additional insights into market sentiment and future trends.
The Indian real estate sector, while not directly affected by today's market movements, is still in the middle stages of its cycle. Experts predict that the current real estate cycle, which typically lasts 7-9 years, will continue until 2028. Companies in this sector are expected to scale rapidly in the coming years, driven by increasing demand and favorable economic conditions.
As the market continues to fluctuate, investors are advised to stay informed and make prudent investment decisions. Watch this space for all the live updates on the Indian stock market and related financial news.
