Wednesday, February 21, 2024

Will sliding foreign market affect the domestic market?

Share Market Prediction

Share Market Prediction: There are signs of weakness from the global market. US markets have declined again.

Share Market Prediction: The effect of weak signals from the foreign market can be seen on the Indian stock market today. The negative sentiment of the market can affect the mood of the investors. It is believed that even today under the pressure of the global market, investors can be seen selling.

On Tuesday, there was a sell-off in the Indian stock market, both Sensex and Nifty closed in the red mark. The 30-share Sensex of the Bombay Stock Exchange closed at 59,196.99, down 48.99 points. At the same time, NSE Nifty closed at 17,655.60 down by 10.20 points.

How about the foreign market?

There are signs of weakness from the global market on Wednesday. After a day off, the open US markets have fallen again. The Dow Jones fell by 173 points, while the Nasdaq closed down by 86 points. Nasdaq weakened for the seventh day in a row.

If we talk about the Asian market, today there is a huge decline in SGX Nifty. SGX Nifty has slipped below 17,500. In this, about 300 points fell from a fall of about 200 points.

its effect on the market

The fluctuating trend of crude oil prices in the global market continues. In the last 24 hours, the price of Brent crude and WTI has fallen by about three dollars.

Brent crude is down by $ 2.80 to reach $ 92.32 per barrel. At the same time, the price of WTI also fell by $ 2.5 per barrel and its price reached $ 86.28 per barrel.

FIIs/DIIs Data

Due to the purchase of foreign investors in the Indian capital market, foreign institutional investors bought shares worth Rs 1,144.53 crore in the market, while domestic institutional investors also bought shares worth Rs 632.97 crore.

However, despite continuous investments, the market suffered a fall due to profit-booking.

Keep an eye on these stocks

Tamilnad Merchantile Bank: Today is the last day to invest in IPO. The price band is Rs 500-525 per share.

Wipro: Wipro has expanded its partnership with Palo Alto Networks. Agreement for the Advancement of SASE, SOC Service.

Paras Defense- ELDIS has signed an exclusive teaming deal with Pardubice. Trunkey anti-drone system has been signed at the civil airport.

Devyani International: The target price per share is Rs 231. The share price on 6 September 2022 was Rs 187. In this way, investors can get a return of Rs 44 per share or about 24 percent going forward.

Tech Mahindra: The target price per share is Rs 1220. The share price on 6 September 2022 was Rs 1,063. In this way, investors can get a return of Rs 157 per share or about 15 percent going forward.

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