The stock market continues to face high selling pressure. At the same time, the market has shown the potential to recover from the downturn.
The market witnessed the Nifty move through the volatility of overcoming the resistance of 15,260. Despite rising to 15,243 points in the morning, the resistance could not break the record level.
The Nifty fell to 15,081 points during the volatility. At the same time, lower interest rates have led investors to buy stocks and the market has rebounded. Similarly, the wide-based National Stock Exchange index Nifty closed at 15,163, down 10 points from yesterday’s close.
The Nifty closed slightly lower in three of the last four trading days. Shares of private sector banks performed differently, leading to a one per cent rise in the Bank Nifty. Shares of FMCG, Metal and Pharma, meanwhile, came under selling pressure.
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