Sensex slips 250 points, Nifty holds above 25,660
Markets kicked off Monday on a cautious note, with Sensex dropping 250 points and Nifty slipping below 25,700.
While private banks and FMCG stocks dragged things down after October's rally, PSU banks, realty, and metals sectors showed gains.
By midday, both indices steadied as investors weighed mixed signals.
Nifty's key support at 25,660 holds
If you're following the markets, Nifty is holding above its key support at 25,660—so things aren't falling apart yet.
PSU bank stocks are catching buyers' eyes right now, while FMCG and financials are taking a backseat.
Basically, it seems that money is moving around as people look for safer bets.
What's causing the market to move in slow lane?
It's a mix of global jitters and investors cashing in profits from last month's highs.
The market pointed to a slow start, but upbeat earnings and auto sales helped limit losses.
Now everyone's watching for HSBC's PMI data to see where things could go next week.