Negative returns reflect sombre mood, especially slump in mid-cap and small-cap stocks
Market players said the government needed to announce market-friendly measures to revive investor sentiment
Nifty outlook and top trading ideas by Jay Anand Thakkar, CMT - Assistant Vice President - Equity Research, Anand Rathi Shares and Stock Brokers.
Sensex gains 637 points, most in a day since January 31
Scrapping of Kashmir autonomy, China yuan devaluation trigger fresh risk-off bets
What has hit the sentiment the most is the higher tax surcharge on overseas investors, who have pulled out nearly Rs 15,000 crore from domestic equities since the Budget
Sensex, Nifty close at their lowest levels in five months
Analysts say there is more pain in store for the markets, as both global and domestic developments are likely to dent sentiment further
For Infosys, keep a stop at 785 and go long. Add to the position between 800-803. Book profits at 805.
The BSE Sensex closed at 37,831 level, down 17 points, or 0.04%. The broader Nifty50, too, shed 19 points, or 0.17%, to settle at 11,252 levels.
The rupee has lost ground, but it is still held above Rs 69 to the dollar
Both the indices - Sensex and Nifty - posted their biggest single-day fall in two weeks, even as other global markets gained on hopes of an interest rate cut by the US Federal Reserve
Mid-caps and small-caps have lost more ground than the large-caps in the F&O sector
The brokerage has re-rated the Indian market, saying the softening of bond yields and steps taken to tackle the crisis at NBFCs will help valuations
Analysts believe that the upside may be capped for the Nifty and the index may fall further if it fails to hold 11,800, with the next crucial support at 11,650
The market consolidated with some profit-booking as the RBI delivered on a rate cut
Traders are buying 'calls' of much higher levels and selling 'puts' to maximise their gains
Volatility is most likely to spike from May 23 onwards
Ratings downgrade of Anil Ambani group firms, YES Bank's surprise March quarter loss, and fears of liquidity tightening and more defaults by housing finance companies all led to panic among investors
The 50-stock index is trading at 29.3 times earnings, beating 2008 P/E multiple of 28.3x