Why Nifty 50, Sensex fall nearly 2% Today

Reason of falling:

On January 24, 2024, both the Nifty 50 and Sensex índices experienced a significant decline in which Nifty falling nearly 2% (over 150 points) and Sensex tumbling around 1.6% (over 1,600 points). This marked a notable drop after India recently surpassed Hong Kong to become the world’s fourth largest stock market.

Why Nifty Sensex fall nearly 2 Today

Some of the Factors that are Dragging the Market Down:

Firm Treasury Yields: Rising yields on US Treasury bonds, particularly the benchmark 10-year note that climbed above 4.1%, dampened investor sentiment in global markets, including India.

Weak Global Cues: Asian markets traded in the red, along with a negative closing for US stock market indices the previous night, further impacting domestic sentiment. This cautious global outlook fueled selling pressure in the Indian market.

Disappointing Banking Results: HDFC Bank’s lower-than-expected December quarter earnings contributed to the decline, leading to a 4.28% drop in Nifty Bank.

Profit Booking after Gains: Following a recent rally, some investors opted for profit booking, adding to the selling pressure and contributing to the decline.

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