Eyes of the India

Analysts say that volatility will continue to remain high, and suggest investors to focus on stocks selection and traders to keep hedge positions. Share Market News Today LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading over half a per cent higher on Wednesday, a day before monthly F&O expiry, as Russia-Ukraine talks progressed.  BSE  Sensex was hovering around 58400, while NSE Nifty 50 tops 17400. Bharti Airtel, Maruti Suzuki, Nestle India, Bajaj Finance, Asian Paints, Housing Development Finance Corporation (HDFC) were top Sensex gainers. Tech Mahindra, Tata Steel, Sun Pharma, NTPC, and ITC were among top index laggards. Barring Nifty Metal, and Nifty Oil & Gas, all the sectoral indices were trading with the gains.

  All the sectoral indices ended with a loss of 3-8 percent, while BSE midcap and smallcap indices shed over 5 percent each. Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities: Investors turned jittery and pressed the panic button after reports emerged that Russia has taken military action against Ukraine. As the mood was sombre across the global equity markets, traders back home also followed suit and pressed the sell button, resulting in across-the-board selling. Also, the F&O expiry pressure also gave investors the reason to cut their position further due to escalating geo-politicial tensions. Technically, after a long time, benchmark Nifty closed below the 200-day SMA and has also formed a long bearish candle on daily charts, which suggests further weakness from the current levels. Considering the uncertainties hovering around, the index may trade lower between the highs of 16800 and 16,000. The market is in corrective mode and it would complete its corre...