BSE Sensex plunged more than 600 points to breach the 64,000 points mark on Wednesday.
Sensex is down 610 points at 63,961 points.
Heavy selling in Sensex heavyweights with Infosys down 3 per cent, NTPC down 3 per cent, Bharti Airtel down 2 per cent.
Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher said the Nifty is currently precariously placed with the overall bias maintained with a very cautious approach and as said earlier, the breach below 19,500 zone was very crucial with the trend and sentiment turning negative and now with 19,200 zone positioned as the important and crucial support zone, a decisive breach below shall trigger for further intensified selling pressure.
Technically, the next major support zone lies near 18,850 levels and 18,600 zones of the significant 200 period MA where one can expect some consolidation. So as of now, it’s a wait and watch scenario and for the overall bias to improve, would need a decisive move past the 19,500 zone to establish some conviction and anticipate for further rise, Parekh said.
The uncertainties associated with the Israel-Hamas conflict will continue to weigh on markets in the near-term, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Positive news like decline in the US bond yields and weakening crude can help the market to revive but it may not sustain given the uncertainty surrounding the West Asian conflict. Investors may opt for a cautious approach to the market till some clarity emerges on the geopolitical situation, he said.
'My name is the guarantee of security in the country', PM Modi says in Karnataka
Prime Minister Narendra Modi on Sunday said that his name is the guarantee of security in the country, adding it was his primary duty to protect the citizens of the nation.
9 held for gang rape of minors in Meghalaya
Nine persons were arrested by the police in connection with the rape of minor girls in the South West Garo Hills district of Meghalaya, officials said on Sunday.
Indian Coast Guard apprehends Pakistani boat with huge consignment of narcotics
In a major success, the Indian Coast Guard, following an overnight aerial-maritime joint operation with the Gujarat Anti-Terrorism Squad (ATS) and the Narcotics Control Bureau (NCB), on Sunday apprehended a Pakistan boat in the Arabian Sea, west of Gujarat's Porbandar, and seized a large haul of narcotics.
Decision to build Ram Mandir in Ayodhya should have been taken on next day of Independence, PM Modi says in K'taka
Prime Minister Narendra Modi said on Sunday that the decision to build Ram Mandir in Ayodhya should have been taken the very next day after the country achieved Independence in 1947.
Rahul slams BJD-BJP in Odisha rally, says both in collusion to benefit few corporates
Congress leader Rahul Gandhi, stepping up the party’s campaign in Odisha on Sunday lashed out at the Naveen Patnaik-led BJD government and the opposition BJP while accusing them of having ‘married’ each other for personal gains and befooling the public.
PM Modi has already scored a century in first two phases of LS polls: Amit Shah
Union Home Minister Amit Shah said on Sunday that Prime Minister Narendra Modi had already scored a century of seats in the first two phases of Lok Sabha polls.
Govt extends shutdown of schools in Tripura till May 1, heat wave alert extends
In view of the intense heat wave, the Tripura government has announced an extension of shutdown of all government aided schools and privately managed schools till May 1 next.
Despite having a woman CM, females in West Bengal most unsafe: JP Nadda
BJP national president J. P. Nadda on Sunday launched a blistering attack on the Trinamool Congress government in West Bengal, saying that despite having a woman chief minister, females in the state are most unsafe.