TODAY'S MARKET VIEW
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The Sensex was down 215.76 points or 0.53% at 40359.41, while Nifty was down 54 points or 0.45% at 11914.40. Benchmark indices ended lower but off day's low as buying in metal and energy stocks helped Nifty to hold above 11,900.I expect the Indian markets to remain under pressure in the near-term, as there are no visible positive triggers, market participants would continue to track global factors such as US-China trade deal.The weakness in Banking and IT stocks was the major contributing factor behind dragging the markets down in today’s trading session. On the technical front, the level of 12,000 is seen as a key resistance by many market participants which adds up to the selling pressure.
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The Sensex was down 215.76 points or 0.53% at 40359.41, while Nifty was down 54 points or 0.45% at 11914.40. Benchmark indices ended lower but off day's low as buying in metal and energy stocks helped Nifty to hold above 11,900.I expect the Indian markets to remain under pressure in the near-term, as there are no visible positive triggers, market participants would continue to track global factors such as US-China trade deal.The weakness in Banking and IT stocks was the major contributing factor behind dragging the markets down in today’s trading session. On the technical front, the level of 12,000 is seen as a key resistance by many market participants which adds up to the selling pressure.
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