Evening Coffee with Market - 28/03/2023
By: Jay Patel | 28 March, 2023
Market Overview
- Nifty50 fell below 16,950 on account of year ending. Nifty Midcap100 and Nifty Smallcap100 ended in red by -0.35% and -0.91% respectively.
- India VIX ended lower by -2.27% falling -0.35 points to close at 15.10;
- Advance-Decline Ratio on NSE ended at 0.38 indicating more number of companies advanced as against declining. Overall out of 2739 Nifty companies 627 - Advances, 1671 - Declines and 441 - Unchanged.
- Sectorally, interest rate sensitive sectors like auto and realty took a fall today. Banking stock outperformed today’s market.
- Total Equities traded value decreased to Rs. 42,221.84 Vs Rs. 42,777.20 crore in previous trading session.
- Derivative to Cash Ratio stood at 5.31 indicating higher amount of trades taken in derivatives (including Options and Futures) as against cash market. Source: NSE, BSE, RBI
- Nifty fell below 16,950 indicating further downside till 16,850 levels
- Bank Nifty saw slight dip but it would be difficult to sustain this level on tomorrow expiry.
- Pharma stocks are showing strength on account of rising viral infections.
- Insurance Stocks may fell volatility on account of year ending.
- Govt extended timeline for Pan-Aadhar linking.
To read detailed analysis report, click here
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