GIFT Nifty is giving sell signal, will the market break again today? Know today's triggers

Correction can be seen in the Indian stock market today on 8th August. There are signs of decline in the markets today. GIFT Nifty index has slipped 200 points, which has slipped below 24200. Correction is being seen once again in the global market. Sharp selling is being seen in Asian and American stock markets. The impact of weekly expiry, RBI MPC meeting and Q1 results will also be visible in the domestic markets on Thursday. Earlier on Wednesday, a spectacular recovery was recorded from lower levels. Sensex closed at 79,468 with a gain of 874 points.

    

                                

Today's focus is on RBI policy.

 However, this time too, there is little hope of any change. Let us tell you that the current repo rate remains at 6.5%. Earlier, RBI did not change the rates for the 8th consecutive time in the June policy.

After the June quarter results

 Apollo Tyres, Godrej Consumer, Welspun Corp, Balaji Amines, Sula Vineyards' shares will be in focus today. At the same time, Q1 results of Alembic Pharma, CONCOR, Cochin Shipyard, Garden Reach Shipbuilders, LIC, Page Industries, JB Chemicals, RVNL, IRCON International, MRF will be released today.

Mood of institutional investors 

The action of institutional investors is being seen regarding the Indian markets. Foreign institutional investors i.e. FIIs sold shares worth Rs 3,315 crore net yesterday i.e. on August 8. Whereas, domestic institutional investors i.e. DIIs bought shares worth Rs 3,801 crore net in the cash market yesterday.

Strong action in Asian stock markets 

Strong action is being seen in Asian stock markets. After a weak start in the morning, recovery is being recorded from the lower levels. Japan's Nikkei index, which fell more than 1 percent in early trade, is now trading with a strength of a quarter percent. The index has crossed 35100. At the same time, due to the export figures, there is also a stir in the Chinese markets, which are trading with a slight decline. China's Shanghai Composite is trading above 2850. Hong Kong's Hang Seng index is also trading flat at 16850 level. Korea's Kospi index is trading above 2550. There is strong action in the markets.

Selling returned in the US markets yesterday.

 A sharp correction was seen in the US stock markets on Wednesday. After a good start, selling was recorded in all sectors. The Dow index fell 700 points from the day's high and closed 235 points down. A sharp correction was again recorded in IT stocks. This is why a 1% decline is being seen in the Nasdaq. Russell 2000 also slipped by 1.5%. The 10-year bond yield in the US has again risen to above 3.9%. Experts believe that the fear of recession is still dominating the US markets. At the same time, a rise of 1.5-2% was also seen in Europe yesterday.

Sharp correction in commodity market 

Sharp action is also being seen in the global commodity market. The dollar index is recovering for the second consecutive day and is trading near 103. A rebound of 2.7% was seen in crude oil in the international market. US crude reserves have declined for the sixth consecutive week. Gold has closed with a decline for the third consecutive day, which is trading near $ 2400 per ounce on Comex. Silver is also trading at a 3-month low. Similarly, there is a decline in base metals.