Stock Market : Before the results of the Federal Reserve meeting, investors are taking a cautious approach in the stock market. Major indices closed in the red after sluggish trading today amid stock-specific action. At the end of the day’s trading, the Sensex was down 78 points at 58923 and the Nifty was down 15 points at the level of 17547. Buying was seen in the metal and auto sector today, while there was pressure in the banking sector.
How was today’s business?
The stock market was trading with volatility in a limited range throughout the day. Today the Sensex’s day’s upper level was 59,178.44 and the day’s low was 58,878.38. On this basis, the Sensex remained in the range of only 300 points throughout the day. Investors are currently awaiting the outcome of the Federal Reserve meeting. The increased liquidity in the system is the biggest contributor to the gains in markets across the world including India. Investors are watching that the Federal Reserve does not take any action that would have any effect on the flow of this liquidity. This is the reason why investors are staying away from big deals for the time being and only stock specific action is being seen in the market.
Where did investors earn?
Today 27 stocks closed with gains in Nifty. In this, both Coal India and Tech Mahindra have seen a rise of more than 3.5 percent. On the other hand, both HDFC and HDFC Bank have seen a decline of more than 1 percent. Along with this, Zee Entertainment included in Nifty Midcap 50 today registered a gain of 30 percent and Godrej Properties by more than 13 percent. While Idea fell 4.63 percent. Small cap stocks also earned investors money. Nine stocks included in Nifty Small Cap 50 closed higher by more than 3 per cent. Whereas 3 has seen an increase of more than 6 percent.