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Dow Jones was also a reason for the fall in Nifty today. Because the Dow Jones closed down 475 points on Friday, the S&P 500 fell 75 points and the Nasdaq closed down 267 points. The S&P 500 has dropped 135 points and the Nasdaq 221 points since April 1.
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| Dow Jones Industrial Average Index |
Bank Nifty also had the same condition as Nifty. Bank Nifty closed at 48564 on Friday. On Monday, Bank Nifty opened 377 points down at 48187. Bank Nifty hit a high of 48235 and a low of 47747 during the day's trading session.
However, Nifty showed some recovery after falling in the first few minutes of the trading session. Nifty also reached 22425 during recovery but then towards the end, Nifty closed at a day low. Bank Nifty did not show much recovery in the entire session and finally closed at the day's low. At the end of the trading session, Nifty closed 247 points lower at 22272 and Bank Nifty closed 791 points lower.
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| NIFTY 50 INDEX |
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| BANK NIFTY INDEX |
NIFTY PULLARS AND DRAGGERS
Some stocks were instrumental in bringing Nifty down and up, which we call Nifty Pullers and Draggers. On one hand, ONGC(5.33%), Britannia (0.21%), Maruti (1.27%) and Hindalco (2.35%) closed in the green while on the other hand ICICI Bank (-2.36%), HDFC Bank (-1.60%), LT (-2.13%), TCS (-1.50%) and Infy (-1.12%) closed weak.
From the picture given below, you can understand which stocks were Pullers and Draggers of Nifty 50.
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| NIFTY 50 Pullers and Draggers |
Heavy selling was seen in both private banks and government banks in Bank Nifty today. The biggest decline in Bank Nifty was seen in ICICI Bank (2.43%), which fell by 26 points. After ICICI Bank, a decline was seen in Bank of Baroda (2.24%).
Talking about other banks, HDFC Bank (1.65%), Kotak Mahindra Bank (0.85%), IndusInd Bank (1.01%), Axis Bank (1.47%), Canara Bank (1.98%), PNB Bank (1.33%), SBI Bank (1.02%), Federal Bank (1.06%), IDFC First Bank (1.90%) all saw a decline during the trading session.
NIFTY MIDCAP & SMALLCAP ANALYSIS
Nifty Midcap and Nifty Smallcap also witnessed a decline during today's trading session. Nifty Midcap opened 742 points lower on Monday compared to Friday. Nifty Midcap hit a high of 49643 and a low of 48791 during the trading session.
After March 21, 2024, such a huge fall was recorded in Nifty Midcap and Nifty Smallcap on Monday. There has been a continuous rise in Nifty Midcap and Nifty Smallcap since March 21, 2024. Nifty Smallcap opened 350 points lower at 16146 compared to Friday. Nifty Smallcap hit a HIGH of 16362 and a LOW of 15913 during the day's trading session.
USD/INR ANALYSIS
The rupee closed 0.03 points strong against the dollar today. The rupee had a weak start on Monday. The rupee opened at 83.61 and strengthened during the trading session to close at 83.43.
SECTOR PERFORMANCE
Talking about different sectors, a decline was seen in all sectors today. Some buying was seen in some stocks of the metal sector today. Hindalco Industries (14.80), NMDC (2.30), and NALCO (2.85) points were bought.
From the Nifty Energy sector, only ONGC was the best performer. ONGC opened at 269 and closed at 281. ONGC gained 5.33% during the trading session. From the auto sector, only Maruti (1.27%), Exide Industries (2.74%), Bharat Forge (0.11%), and Motherson Sumi (0.21%) performed well.
From the FMCG sector, only Nestle India (0.69%), Colgate Palmolive (0.43%), and Britannia (0.21%) were able to perform well, while all the other stocks remained weak.
You can understand from the picture given below which sector performed how on 15 April 2024.
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| SECTOR ANALYSIS |
FII AND DII FLOWS
Talking about FII and DII FLOWS, FII sold heavily in the market today. FIIs sold more than Rs 3200 crore on 15 April 2024. Talking about the FUTURES and OPTIONS segment, FIIs sold more than Rs. 38000 crores in index futures but FIIs bought more than Rs. 14000 crores in stock futures.
DII sold more than Rs 2100 crore in index futures and DII sold more than Rs 25000 crore in stock futures.
FINAL CONCLUSION
What further impact will the Iran-Israel tension have on the market? Will Nifty fall further from here or will the Iran-Israel tension resolve very soon? Only time will tell. Today's decline in the market may continue for some more days. The further movement of the market now hinges entirely on the Iran-Israel issue. Traders and investors should take any step only after checking everything.
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