Dalal Street finally got a breather on Thursday, September 4, after four straight sessions of punishment, but the close was nowhere near the day’s high. What looked like a strong comeback in the morning turned into a cautious close after the closing auction shaved off gains.
Dalal Street started September on a sour note. After a gap-down open, benchmark indices never recovered, ending deep in the red as a lethal mix of $95 crude, spiking US yields and fresh US-Iran missile exchanges sent global risk assets tumbling.
Dalal Street closed Tuesday on a tired note. After flirting with 77,231 intra-day, the BSE Sensex settled at 76,944.28, down 12.99 points or 0.017% at 3:32 pm IST, while NSE Nifty 50 shut shop at 24,055.80, down 24.60 points or 0.10% at 3:31 pm IST.
After bleeding for two straight sessions, the bulls roared back in the final hour on Friday. The BSE Sensex climbed 330.91 points, or 0.43%, to close at 77,264.51 and the NSE Nifty 50 added 84.80 points, or 0.35%, to end at 24,175.65 as of 3:32 pm IST – well above the previous close of 76,933.59 and 24,090.85.
Dalal Street’s brief romance with the bulls ended in tears on Wednesday. What started as a cautiously optimistic morning turned into a full-blown sell-off by the closing bell, as benchmark indices capitulated to heavyweight selling.
After starting deep in the red and bleeding through the morning session on August 25, benchmark indices staged a powerful late-session reversal to end near the day’s high, snapping a two-day losing run.
A late-session bounce saved Dalal Street from a deeper cut, but could not prevent the bears from stamping their authority on Monday. After a strong start, benchmark indices slid over 1% intra-day before recovering half the losses, closing marginally lower on cautious trade ahead of a major US announcement on Iran.
