New Delhi: All eyes will be on BSE Sensex and Nifty on Tuesday a day after Indian stock market indices plunged on August 5, 2024. The 30-share BSE Sensex plummeted 2,222.55 points to close at 78,759.40. The NSE Nifty tanked 662.10 points to end at 24,055.60.
The rout in the stock markets was reported due to selling in almost all the sectors, including banking, IT, metal and oil & gas shares following a global equity rout. Over Rs 15 lakh crore of investor money was wiped out in a single day.
In the Sensex pack, 3,414 stocks declined on the BSE on August 5 as mayhem was witnessed across the world markets, including Nikkei, South Korea, Hong Kong and others.
Meanwhile, IIFL Securities provided as estimation of Intraday Nifty and Bank Nifty levels for today:
Support 1: 49630 and Support 2: 49150
Resistance 1: 50650 and Resistance 2: 51200
Support 1: 23850 and Support 2: 23650
Resistance 1: 24300 and Resistance 2: 24550
World Stock Markets tumble
The turmoil in the global financial markets is being attributed to a fear that the US Federal Reserve may have held its key interest rate too high for too long, heightening the risk of a US recession. Economists are of the view that the US Fed should go ahead with a cut in its benchmark rate.
The world markets reported a crash after the US released its July jobs report from the Labour Department, which revealed that the unemployment rate rose in the country declined from 4.1 per cent to 4.3 per cent.
Stock Market today updates: All stock market investors are keenly awaiting for indices to open on August 6, 2024 a day after BSE Sensex and NSE Nifty plummeted nearly 3 per cent. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
