Nifty, Sensex will continue to decline till...

November 04, 2024 10:02

The selling pressure returned to Indian markets after gains on the Muhurat trading day, as both indices opened lower on Monday.

The Nifty 50 index opened with a marginal gain of 11 points, or 0.05 per cent, at 24,315.75 points, while the BSE Sensex index declined by 10 points, or 0.01 per cent, to 79,713 points. Both indices declined further in early trade.

Experts noted that this week is expected to be very volatile for stock markets globally due to various factors, and investors are advised to take cautious steps.

Ajay Bagga, Banking and Market Expert said "Four important numbers for this week, markets brace for the outcome of the US Presidential Election on Tuesday, November 5th. The second event is the Fed meets on Wednesday and Thursday, with a 25 basis points (0.25 pc) rate cut expected. Third, in a boost to oil prices, the OPEC+ alliance of oil producers will not be raising oil production by the previously announced daily levels in view of slow demand".

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