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On February 28, benchmark indices plummeted over 1% as media, PSU bank, and energy stocks experienced significant sell-offs. Analysts note that despite dips, the market demonstrates resilience, with investors buying at lower levels, consolidating within a range. Attention is now focused on India’s GDP growth data, with investors eagerly awaiting its release.
The Sensex closed 790.34 points down at 72,304, and the Nifty fell 247.10 points to 21,951.
BSE Midcap and Smallcap indices dropped almost 2% amidst SEBI’s push for asset managers to enhance disclosure of risks linked to small and mid-cap funds, impacting the broader market sentiment.
FIIs selling off substantial Indian stocks likely contributed to the market’s decline. FIIs have remained net sellers, with month-to-date (MTD) net sales totaling Rs 17,650 crore.
Suggestions: Midcap and smallcap looks highly volatile. If possible wait and watch and then invest. And don’t invest all your money, keep some to average out if market falls further.
