Latest News As we approach the highly anticipated Lok Sabha election results on June 4, the Indian stock market is showing signs of nervousness. Traders and investors alike are proceeding cautiously, not wanting to get too far ahead before the dates of June 1 and June 4. This apprehension is evident in the recent performance of the Nifty, which, despite confidently breaching the 23,000 mark earlier, struggled to maintain its momentum.
On Monday, the Nifty cooled off by 200 points from its highs, and Tuesday followed a similar pattern with a 110-point cool-off, closing below 22,900 and at the day's low. This trend of sell-offs emerging in the final hour of trading has been a recurring theme this week, causing concern among market bulls. Adding to the market's anxiety is the rising Volatility Index (VIX), which climbed another 4% on Tuesday, closing above 24.
This increase in volatility is a clear indicator of the market's current unease. While Monday offered some solace with banks and broader markets performing well despite the Nifty's struggles, Tuesday saw a broader market sell-off. Midcaps underperformed, and sectors like real estate, PSUs, and PSU banks, which have had a strong run over the past year, led the decline.
Wednesday's trading session is expected to be influenced by the results reported by companies such as Aditya Birla Fashion, NBCC, and Amara Raja Batteries after market hours on Tuesday. Additionally, major firms like Tata Steel, Alkem Labs, Bata India, Cummin.
