π Sensex up, Nifty down: market divergence explained
The BSE Sensex jumped 504 points to 79,143 on Tuesday morning, while the Nifty 50 dropped 184 points to 24,590. This sharp divergence is attributed to the first-ever Closing Auction Session (CAS) on Monday. On Monday, the Nifty closed 390 points higher due to swings in stocks like ICICI Bank and TCS. Analysts suggest the Monday spike was an aberration caused by the new CAS mechanism. The market needs a few more days to see how the new system normalizes. π