Today the National Stock Exchange (NSE) Nifty50 index which opened on a lower note in previous trading session at 10,508.70 plunged during the session and closed 205.25 points down at the level of 10,488.45.
During its trading session many stocks hit their 52-week lows. No doubt the market is expected to shift focus from Urjit Patel’s resignation which is a surprise end as RBI governor which likely to frighten not only equity investors but also the currency market which may lead to the sharp fall in the value of the Rupee. Although the market could possibly shift from the resignation of Urjit Patel to the Assembly elections 2018, which will be a key indicator of sentiments ahead the 2019 general elections.
Taking cues from the previous domestic trade session and global market it is expected to see the market to plunge more lowly.