Correction came calling for Indian markets on Wednesday, as bearish bets built up after the surprise spike in inflation battered stocks.
The Nifty and its smaller cousins are now 10% below their peaks, while the BSE Sensex teeters on the edge. A fall of 5-10% from the peak is referred to as a pullback, 10-20% is a correction, and above 20% marks the beginning of a bear market. As leading indices plunged, traders' strategy to sell more calls than put options paid off.
Market veterans said the texture of the market has changed from 'buy on dip' to 'sell on rise'.
Signalling the rising bearish sentiment, the Nifty touched its 200-day moving average of 23,545 and closed just above it, down 1.36% to approach a five-month low. The index had hit 23537.85 on 24 June. The Sensex fell 1.25% to 77690.95, also the lowest since 77341.08 on 24 June.
Bu hikaye Hindustan Times dergisinin November 14, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Hindustan Times dergisinin November 14, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Kerala Nurse Body Bars 5 Students Over Ragging
Such accused students must never enter the nursing field in future. It will be a tragedy for the field. KNMC OFFICIAL
AAP loses majority in MCD as 3 councillors shift to BJP
The Aam Aadmi Party (AAP) on Saturday lost its majority in the Municipal Corporation of Delhi (MCD) house of councillors after three ward representatives switched over to the Bharatiya Janata Party (BJP) the latest in a series of defections dating back to November 2024.
SIT Likely To Probe 'Links' Between Gaurav Gogoi's Wife And Pak: CM
Assam chief minister Himanta Biswa Sarma on Saturday said that the police is likely to register a case and constitute a special investigation team (SIT) to probe Congress MP Gaurav Gogoi's wife's alleged links with Pakistan.
Vigilance body orders probe amid Kejriwal residence row
The Central Vigilance Commission (CVC) has ordered an investigation into alleged irregularities in the renovation of former Delhi chief minister Arvind Kejriwal's official residence, marking the latest chapter in a controversy regarded to have played a role in the Aam Aadmi Party (AAP) being voted out of power.
Deregulation panel to reduce State's role in governance: PM
A day after returning from his two-nation visit to France and the United States, Prime Minister Narendra Modi on Saturday said the Union government will constitute a deregulation commission to further reduce the role of the state in all spheres of governance and to promote ease of doing business.
Champions Trophy: Teams ready for a battle of pitches
Different track conditions are likely to test the teams other than India, who play only in Dubai
LATE DRAMA AS INDIA WOMEN WIN BUT MEN LOSE TO SPAIN
The Indian women's hockey team defeated England 3-2 in their opening match of the FIH Pro League at the Kalinga Stadium in Bhubaneswar on Saturday.
Can we make room for art in football?
Data has taken over, at the cost of flair and artistry. Can the game balance the two?
Raj Planning To Bring Dress Code For All Teachers
BJP government is planning to introduce a dress code for teachers in state's schools, officials familiar with the matter said on Saturday.
Scindia hails 5G roll-out, says India will be a $6 trillion economy by 2030
India will be a $6 trillion economy by 2030, Union communications minister Jyotiraditya Scindia said at an event in the Capital on Saturday.
