Two terrible sessions on the trot indicates a big problem. About 1000 points have gone down on the Sensex in two days. After the kind of selling seen on Friday, a technical pullback was expected from oversold ground. Every attempt at a pullback was sold today. We finally closed at the lows of the day, at around 5750. Now 5750 is the closing low for November which is the lowest close to have seen for the last four months. We have closed at a critical level today. Hopefully, we do not expect to see a repeat tomorrow of yesterday. The market has become weak and is facing a lot of institutional supply. On Friday, we saw a whole lot of delivery based selling. Today, due to the falling of some blue chips, it appeared that the FIIs were on the sell side.
Rate sensitives were under forefront of the fall with some of the financials. The private sector blue chips were singled out for punishmentDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
