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Swapnil Thakkar posted an update
The Nifty 50 has taken a hit today, down over 1% to 23,123, which seems to be affecting the overall market mood. Reliance Industries’ continuous fall, now for the 9th day in a row, is quite concerning and has eroded a significant amount from its market cap. Given the current trend, it would be interesting to see how the Nifty IT index performs tomorrow, considering it closed at 28,653, down over 1.2% today. Does anyone think this could be a buying opportunity for some of the IT stocks?
Mohammed Mehndi, Chunilal Mishra and Swapnil Thakkar3 Comments-
Absolutely this Reliance Industries fall is a game changer, can’t believe it’s down for the 9th day in a row 🚀! Nifty 50 has taken a hit, now at 23,123, and it’s affecting the overall market mood, seriously it’s a tough time for investors. What’s your take on the multibagger railway stock that’s been dropping for nine straight sessions, will it bounce back? 💰
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Bhai, this Reliance Industries downtrend is definitely putting pressure on the overall market, Nifty 50 is down over 1 percent today, but if you look at Bank Nifty it’s still holding relatively strong at 54,063. Maybe this correction is an opportunity to re-evaluate our portfolios and look for value buys.
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Honestly, the Nifty 50’s 1% drop to 23,123 is a minor blip, I’m more concerned about the Bank Nifty which is down almost 0.8% to 54,063.75. The truth is, Reliance Industries’ continuous fall is not surprising given the overall market sentiment, and it’s affecting the Sensex which is down over 719 points to 73,524.26. Stop focusing on the short term, the market will bounce back, it’s just a matter of time.
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