The trend of weakness in the stock market is not showing any signs of stopping. Even on the last trading day of the week, the market opened with a decline and investors’ concerns increased in early trading. The market environment seems to be under pressure due to decline being recorded for the third consecutive day. In early trade, Nifty was seen trading at the level of 24,088 with a decline of 83.75 points or 0.35 percent. Whereas Sensex was seen trading at 77,325.24 with a weakness of 312.44 points or 0.40 percent.
IT and pharma shares fell the most
IT and pharma sectors were the biggest contributors to today’s decline. There was a decline in big stocks like Infosys, HCLTech and Cipla. Selling in the shares of these companies increased the pressure on the market further. Experts believe that these stocks remain under pressure due to global cues and sector-specific weakness.
Results of these 15 companies will come today
Today, investors’ eyes are mainly focused on corporate results. Reliance Industries will declare its results this evening, which will decide the next direction of the market. Apart from this, Shriram Finance, IndusInd Bank, Adani Green Energy, Can Fin Homes, Chennai Petroleum, DCB Bank, Hindustan Zinc, Lodha Developers, L&T Finance, Mahindra & Mahindra Financial Services, Mangalore Refinery, Supreme Petrochem, Tanla Platforms and Zensar Technologies will also release their quarterly results. The impact of the results of these companies can be seen in the day-to-day business. Depending on good or bad results, sharp movements in the respective shares are possible.
What is the signal for investors?
The decline for the third consecutive day is indicating that the market is currently under pressure and investors need to be cautious. Experts advise to avoid taking hasty decisions and invest only keeping in mind the fundamentals of the companies.
