25 March 2024: The Nifty fell today primarily due to declines in the information technology (IT) and banking sectors, which exerted downward pressure on the overall market. IT Sector Sell-off: Accenture, a major IT company, lowered its revenue forecast for the year. This triggered concerns about a slowdown in the IT sector, leading investors to sell shares of Indian IT companies like HCL Tech, Infosys, and TCS, which caused the Nifty to decline.
What is NIFTY? Why Nifty Falls Today?
Nifty is a stock market index that tracks the performance of the 50 largest companies listed on the National Stock Exchange (NSE) of India. It is a widely used benchmark index for the Indian stock market.
The term "NIFTY" is a combination of "National" and "Fifty." The Nifty 50 was launched in 1996 and is considered a reliable indicator of the overall performance of the Indian stock market.
The companies included in the Nifty 50 are selected based on their market capitalization and liquidity. The weightage of each company in the index is based on its free-float market capitalization. This means that companies with a larger number of shares available for public trading have a greater impact on the index.
The Nifty 50 is reviewed and reconstituted twice a year, in March and September. This ensures that the index continues to reflect the performance of the largest and most liquid companies in the Indian stock market.
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