By the point of TA view , Nifty was making H&S formation and sell off triggered and broke down on the news of Repeal of Farm Law, FIIs are in to selling continuously its a double whammy , I was expecting 17300 level & had some PUT Options.
Markets were in a free-fall today amid fears that a new COVID-19 strain could fuel outbreaks in many countries. Nifty and Sensex both cracked nearly 3%. Things look similar for US markets as well.
Brent Crude: 77.64 -5.57%
USD-INR Spot: 74.87 +0.48%
India 10Y bond yield: 6.33% -0.58%
Amongst F&O stocks:
Cipla was the top gainer.
Indian Hotels and Bandhan Bank were the top draggers. Both slipped by over 11%.
Nifty Pharma was the sole gainer with all other sectors in deep red with Nifty Realty Index falling the most
In the news
Tarsons Products shares rally after lukewarm debut; stock soars 20% from IPO price post listing.
RBI releases recommendations of IWG on ownership guidelines for private banks. RBI stays away from corporate entry into banking. Allows higher promoter stake in private banks.
ITC to acquire a 16% stake in D2C natural personal care brand Mother Sparsh.
Amazon alleges Rs 7,000 cr. diverted from Future Retail.
Tata in talks to set up $300-mn semiconductor assembly unit: Report
Equity fund mobilization slows in October, shows AMFI data
Global
All Major Global Indices fall between 1-3% on the news of the new COVID variant from Southern Africa.
European Union (EU) proposes banning flights from Southern Africa due to New Covid Variant.
Brent Crude slumps under $80 as investors wary of the new variant, Q1 surplus.
Here’s a snapshot of how major indices and sectors fared over the week.
Chart of the day:
Global equity markets have seen inflows of $1 trillion in the past 12 months.