Sensex falls 330 points, Nifty ends 126 points lower

The Indian market opened lower today. Sensex fell by 330 points at 52,688 and Nifty lost 126 points to 15,653 in early trade. The Sensex ended up 8 points lower at 53,018 and Nifty lost 19 points to 15,780 in volatile trade on Thursday. The top Sensex losers were Tech Mahindra, Bajaj twins, who fell to 2.09 per cent. Axis Bank, SBI, and Kotak Bank were among the top Sensex gainers, rising to 1.74 per cent.

H 1 of 2022 ended up with the benchmark S&P 500 correcting sharply by 21% -- the worst half since 1970. It is important to appreciate the fact that India has outperformed with Nifty correcting only around 9%.

With the economy showing signs of a recovery despite global headwinds, the prospects for H 2 appear to be better for markets.

In the near-term, stock price movements in July will be in anticipation of better than expected Q 2 results in these segments. Metals stocks are likely to bottom out absorbing the poor Q 1 results. Titan, M&M, Dr Reddy's top Sensex losers, fell to 2.79 per cent.

Sensex falls by 330 points at 52,688 and Nifty loses 126 points to 15,653 in early trade.

On the technical front, Nifty is holding a crucial support zone of 15,700 -- 15,750 and we may see an increase towards 16,000 if it continues to hold this support zone. There are 15,600 and 15,900 immediate support and resistance for Nifty. The immediate support and resistance for the Bank Nifty are 32,800 and 33,750. The Indian market is likely to open lower as SGX Nifty fell 31 points to 15,691. The opening of the Indian market is believed to be the first indication of the Singapore Stock Exchange.

Sensex ended up with 8 points lower at 53,018 and Nifty lost 19 points to 15,780 in volatile trade. The top Sensex losers were Tech Mahindra and the Bajaj twins, who fell to 2.09 per cent. Axis Bank, SBI, and Kotak Bank were the top Sensex gainers, rising to 1.74 per cent. The market breadth was negative with 1,369 stocks ending higher against 1,907 stocks falling on the BSE. The shares of 144 were unchanged. Banking stocks were the top sectoral gainers with BSE bankex ending 236 pts higher.