Stock Market Update for 18/04/2023
Yesterday Nifty had huge fall in the starting after sometimes it had recovered little and ended in red. The Major fall is due to Infosys and HDFC bank these two stocks have higher weightage in Nifty 50 stock, so market had felled huge. Foreign Institutions had been net sellers yesterday they had sold above 500cr, and our Domestic Institutions had bought above 200cr. Nifty has a huge resistance near 17800. Yesterday Majority of global markets ended in red, but US market had ended in green. Today Nifty futures and SGX Nifty indicating gap down or flat opening. IT sector is in concentration for the day. Market will consolidate and take direction soon.
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