Thursday, January 28, 2021
Bears continued to strengthen their grip on the market as they sold whatever they could get their hands on, sending benchmark indices lower for another day ahead of the Union Budget. At the intraday low of 46,518.48, the 30-scrip S&P BSE Sensex index lost around 3000 points in five days. Foreign investors have decidedly turned negative on India withdrawing money from equities for the third day in a row.
Traders are also unwinding their long positions in tandem, putting further pressure on the market.
Markets, globally, have turned weak following the steady decline in the US market. The heightened speculative activity in certain segments in US markets has become an area of concern. Back home, in India, the third day of consecutive selling by FIIs have turned the market mood bearish. According to experts, the budget uncertainty will keep the bulls in restraint.
