Yesterday, the National Stock Exchange (NSE) Nifty index opened flat at 11,598.75 from its previous closing level of 11,582.35 and closed lower at 11,520.30. It extended losses for the second consecutive session and fall below 11,500 with intraday low of 11,496.85 after the rupee hit a record low of 71.57 to the dollar and rising crude oil prices. Hence, the formation of the bearish candle on the daily charts.
Almost all sectoral indices closed in the red except the IT which was the only gainer, rising 2 percent on rupee weakness.
US stock fell on Tuesday when all the major indices NASDAQ, S&P 500, and Dow Jones fell in Tuesday’s session.
Taking cues from the global sentiment, it is expected to see a flat to negative sentiment in Wednesday’s session as well.