#MarketAtClose 16/06/22 Market erases gains seen post-Fed r | Value investing and swing trading(money markets academy)

#MarketAtClose 16/06/22

Market erases gains seen post-Fed rate hike, Sensex & Nifty close at 13-month lows

Midcap Index & Nifty Bank enter a bear market, down >20% from record highs hit in 2021

BSE Cos erase a market cap of ₹5 lakh crore today & ₹18 lakh crore in June so far

Sensex & Nifty Bank fall 1,647 & 1,140 points respectively from day’s high

Nifty & Midcap index fall 503 & 965 points respectively from day’s high

Sensex closes 1,046 pts lower at 51,496 & Nifty 332 pts lower at 15,361

Nifty Bank slips 722 points to 32,617 & Midcap index 629 points to 26,180

9 Nifty stocks including Wipro, Tech Mahindra, Tata Steel & Infosys hit 52-week Lows

Metals top losers with Nifty Metal down 5%, Vedanta down 7%, Tata Steel falls 6%

Airlines slide following a sharp hike in ATF price, IndiGo & SpiceJet down 5-6%

Reliance fails to hold opening gains, slips 4% from day’s high

Tata Motors slips as the company sees an adverse impact on the outlook from the China lockdown

Most Midcap Stocks Slip, Strides, Vedanta, RBL, Delta, Chambal, JSPL top losers

Market breadth firmly in favour of decline, Advance-Decline Ratio at 1:8