Sectoral indices opened mix as Nifty FMCG index was up 0.19%. On the other hand, Nifty Bank declined 0.87%, Nifty Metal index lost 0.72%.
Wall Street stocks tumbled on July 19, with Dow Jones losing more than 850 points
In 2020-21, as many as 14,674 companies were closed down, while the number stood at 70,972 in 2019-20.
Barring Nifty Realty (up 0.43%) and Nifty Pharma (up 0.24%) all other sectoral indices ended with losses.
The valuations on an absolute, as well as a relative basis, are high and investors should consider booking profits at such high valuations
Tracking Asian peers, slipped 454 points or 0.86% to 52,685, while the Nifty 50 was at 15,775 plummeting 132 points or 0.83%.
There is a lot of excitement in India's startup ecosystem, which now has easy access to funding & digitisation is aiding formalisation of the economy
IPOs continue to shine and when paired with a bull market, the interest is amplified as promoters and PE investors benefit from attractive valuations
IT stocks were the biggest drag on profit booking while pharma stocks saw fresh buying
In opening trades Sensex hit a new peak of 53,290, likewise Nifty 50 touched a record high of 15,962