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Dheeraj Kumar

25/03/2024

-8 minutes read

Market Overview: Sensex and Nifty Expected to Open Lower Amid Global Uncertainties

A comprehensive analysis of the expected market trends for Sensex and Nifty, including insights into global market influences, commodities, and the role of Probz.ai in providing market insig


The Indian stock market is poised for a cautious start on March 14, with the sensex and nifty indices expected to open in the negative territory. This comes after a challenging session on March 13, where widespread selling pressure led to significant declines in both the mid and small-cap segments, causing concern among investors.

By the end of the trading day on March 13, the Sensex had fallen by 906.07 points, a decrease of 1.23%, closing at 72,761.89. Similarly, the Nifty saw a reduction of 338.00 points, or 1.51%, ending the day at 21,997.70. According to the pivot point calculator, the Nifty 50 is expected to find immediate support at 21,910, with further support levels at 21,782 and 21,576. Conversely, resistance may be encountered at 22,323, followed by 22,451 and 22,658.

In international markets, Wall Street experienced a mostly lower close as investors took profits in chipmaker stocks, while Asian markets showed mixed results in early trading. Notably, the State Bank of India has partnered with Paytm for UPI payments, and Reliance Industries plans to acquire Paramount Global's stake in Viacom18 Media. Additionally, the market regulator SEBI is set to discuss regulatory changes that could impact foreign investors, alternative investment funds, and portfolio managers.

On the commodities front, gold prices saw an uptick due to a weaker dollar and ongoing geopolitical tensions, while oil prices surged to a four-month high following unexpected declines in US crude inventories.

Investor sentiment continues to be influenced by foreign institutional investors (FIIs) and domestic institutional investors (DIIs) trading activities, with FIIs selling off shares worth Rs 4,595.06 crore and DIIs purchasing shares valued at Rs 9,093.72 crore on March 13.

In conclusion, as the market navigates through these uncertain times, investors are keenly watching for any signs of stability. Amidst this backdrop, Probz.ai stands out as an innovative AI-powered platform offering both qualitative and quantitative insights, helping investors make informed decisions in a volatile market environment.


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