On Thursday, as the monthly derivatives expiry day unfolds, Indian stock market investors are expected to exercise caution. This sentiment stems from subdued global market indicators and the recent significant downturn observed in the Sensex and Nifty 50 indices during the previous session.
The trends on Gift Nifty also indicate a mildly positive start for the Indian benchmark index. The Gift Nifty was trading around 21,960 level, up more than 30 points from Nifty Futures’ previous close.On Wednesday, the domestic benchmark indices ended more than a percent lower, with the Nifty 50 falling below 22,000 level ahead of the monthly expiry.
The Sensex plunged 790.34 points to close at 72,304.88, while the Nifty 50 slipped 247.20 points, or 1.11%, and ended at 21,951.15.Nifty 50 formed a long negative candle on the daily chart that has engulfed the last two sessions’ bull and bear candles.