Domestic markets experienced a twist of fate on Friday as benchmark indices fell sharply after a largely positive opening.
The other broader market indices also fell sharply as volatility witnessed a big jump. All the Nifty sectoral indices plunged into negative territory, with heavy losses in IT, banking, and financial services.
It is worth noting that blue-chip stocks such as Reliance Industries Limited, HDFC Bank, TCS, and more also contributed to the massive slide on Dalal Street.
He noted that NFP data from the US, expected later in the day, is also a factor for the heightened market volatility.
“Domestically, factors such as Q4 results announcement, pre-election result jitters, and high level of margin trading contribute significantly to the heightened market fluctuations,” Goel said.
Source: India Today