Manic Monday: Markets fall by 1% as oil concerns weigh, cancel previous gains

Twenty-six of Senbad's 31 members sold Monday, down 4.6% at Tata Motors after its Jaguar Land Rover unit recorded a drop in sales in October compared to the previous year .

Indian equities fell
The S & P BSE Senbad benchmark index fell 1% to 34,812.99 at the close in Mumbai, after capping its first consecutive weekly. gains in two months. Twenty-six of Senbad's 31 members fell on Monday, while Tata Motors posted a 4.6% drop after its Jaguar Land Rover unit recorded a decline in sales in October compared with the previous year.
by removing a gain of 0.6%. A gauge to monitor its volatility jumped 9%, its largest increase since October 19th. Sixteen of the 19 industry indices compiled by the BSE fell, under the effect of a drop in the indicator of car manufacturers. quarterly results to date, 25 have met or exceeded badysts' forecasts.
The Senbad opened on a solid basis at 35,287.49 and rose to a high of 35,333.22, in line with an upward trend in other Asian markets and new inflows of foreign investors . However, investors' profit-taking at better prices wiped out the initial gains and the Senbad slipped to a low of 34,756.80 before stabilizing at 345.56 points, or 0.98%, at 34 812.99.

During the volatile session, he switched from 576 alternating points of purchases and hectic sales. The tally lost 79.13 points on Friday.

The Nifty slipped below the 10,500 mark, losing 103 points, or 0.97%, to 10,482.20. Investors are also waiting for the release of consumer inflation data last month and the impression of industrial production in September after the markets closed.
Even after the entry of oil, the biggest import of India, Last week, during a bear market, investors badessed the possible impact of a plan to reduce producers' supply of the national economy and corporate profits. Markets are also volatile, with traders betting on various possible results of polls before votes in five states, starting Monday, and national elections likely in May 2019.
"This is mostly oil, and the The decision will be made to determine whether the crude continues to remain low, continues to fall or reverses its movement after supply cuts to major producers, "said Chokkalingam G, general manager of Equinomics Research & Advisory at Mumbai. "Investors need to use the volatility of the choices to buy mid-quality stocks that were neutralized during the recent correction."

(With PTI inputs)