After four day’s of gains, the stock market saw a slight dip on October 22. The Sensex was down 149 points and the Nifty was down 41 points. The reason for the market loss is the high level of profit booking.
The market ended with a loss after strong fluctuations. The morning trade also started with a loss. At no point in the trade did the Nifty rise above October 21’s closing level.
The Sensex closed at 40,558 points. It was up 40,721 points but could not cross the 41,000 level. The day’s low was 40,309 points.
The Nifty had a strong resistance of 11,900 points. It rose to 11,939 points but failed to make gains. Similarly, the wide-based National Stock Exchange index Nifty fell by 11,823 points to close at 11,896 points.
Most of the Nifty stocks lost ground today. Out of the 50 stocks in the Nifty, 22 gained while 28 lost. NTPC, Tata Motors, Bharti Airtel, IOC and Bajaj Finance are the top five gainers in the Nifty today. NTPC gained 4.13%. Shares of Tata Motors, Bharti Airtel, IOC and Bajaj Finance gained over 2 per cent each.
Metal stocks gained. Bank and IT stocks, meanwhile, lost ground. Hero Motors, IndusInd Bank, ICICI Bank, Titan and Hindalco were the top five losers in the Nifty. Hero Motors fell 3.03 per cent.
