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Sensex, Nifty fall 1% each: 4 key factors that are pulling market down

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4 years ago

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Sensex, Nifty fall 1% each: 4 key factors that are pulling market down

The market lost more than a percent on October 28 in day trading. The broader markets also corrected, but less than benchmark indices as the Nifty Midcap and Smallcap indices were down around half a percent each.

The BSE Sensex fell 488.28 points or 1.20 percent to 40,033.82, and the Nifty50 dropped 128.10 points or 1.08 percent to 11.761.30.

“Indian market is expected to follow global cues with an increase in volatility in the coming days as we are heading closer to the US election and more economic restrictions due to the devastating rise of COVID cases,” said Vinod Nair, Head of Research at Geojit Financial Services.

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India continued to report better recovery rate and lowered active cases week-after-week, but the situtation in United States and some nations in Europe looks tense as the coronavirus infections, hospitalisation and deaths increased sharply again.

As a result, the governments announced further restriction measures to avoid the spread of virus, which ultimately could impact global growth.

Media reports indicated that France may announce complete lockdown to contain the virus outbreak. Mainland China also reported increase in virus infections.

Investors also looked cautious ahead of the US presidential elections scheduled to be held on November 3. Reports indicated that there could be tough competition between Republican Donald Trump and Democrat Joe Biden, and the surveys indicated that Democrats have more chance in the elections, over Republicans and the number of people to vote is expected to be more than previous several elections.

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US President Donald Trump clearly stated that there won’t be coronavirus relief bill before election, which has not yet cleared amid several negotiations between Republicans and Democrats.

Banking & financials were leaders in fall as the Nifty Bank and Financial Service indices fell more than 2 percent each. The Bank Nifty formed bearish candle on the daily charts.

IndusInd Bank, Federal Bank, ICICI Bank, Kotak Mahindra Bank, SBI, HDFC Bank, Axis Bank and Bank of Baroda were down 1.5-3 percent.

IT lost over a percent, while FMCG, Pharma and Metal indices were down more than half a percent.

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The Nifty50 corrected a percent and formed bearish candle on the daily charts, but overall trend of last few sessions indicated that the index has been in a range of 300-400 points and is expected to remain in same range in coming days too.

“The index is still stuck in a range between 11,650 and 12,050. While choppy markets can test a trader’s patience, one must exercise caution and avoid trading in rangebound markets,” Manish Hathiramani, Proprietary Index Trader and Technical Analyst at Deen Dayal Investments told Moneycontrol.

“If we can get past 12,050, the Nifty can achieve 12,200-12,300. If it breaks 11,650, we could drop to 11,400-11,450,” he said.

Tap To Explore More : Money Control

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Also Read : BECA DONE, FIGHTERS AND ARMED DRONES NEXT AS INDIA TURNS THE US POSITIVE

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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19 hours ago

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January 21, 2025

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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