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NSE nifty was down by 0.24 per cent or 45.20 points to 19,095.70 in the afternoon, while the BSE Sensex was at 63,942, down by 0.27 per cent or 170 points at 1 pm on Tuesday.
A total of 3637 stocks were actively traded, 1909 advanced, while 1586 stocks declined, and 142 stocks remained unchanged. While 137 stocks hit a 52-week high, and 24 stocks hit a 52-week low.
According to Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, three key market indicators have emerged as significant signals. Firstly, the dollar index has seen a decrease of 0.40 per cent. Secondly, there has been a 3 per cent decline in crude prices. Lastly, there appears to be a limited instance of safe haven buying in gold.
Top gainers on the BSE include Ace, Cigniti, Repcohome, Pidilitind, Vesuvius with gains ranging from 7 per cent to 6 per cent. Top losers from BSE include Gokex, Rainbow, Supremeind, Inoxwind, Siemens with losses ranging from 5 per cent to 3 per cent.
Dr. V K Vijayakumar, said, “Buy on dips is the strategy that has worked well in this highly volatile market. In spite of multiple crises, risks and uncertainties the market has been bouncing back smartly as evidenced by the 290-point rally in Nifty in the last two days. Globally, stock markets have refused to discount the West Asian crisis aggravating into a global catastrophe impacting markets.”
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