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Sensex Today | Stock Market Crash LIVE Updates: Sensex tanks more than 930 points, gives up 71,000; Nifty below 21,150; Smallcap index drops 3.42%

 Sensex Today: Sensex Today: Sensex and Nifty witnessed heavy selloff on Wednesday, stepping back from all-time high levels. The selling came even as the global market mood remained upbeat. Barring IT and FMCG indices, all sectors traded with cuts. The fall in the broader markets was more pronounced vs Nifty50.


Stock Market Highlights
Doms shares list at 77% premium
India Shelter Finance shares debut at 26% premium
Azad Engineering IPO opens for subscription
Paytm CEO sees full operating profit in under a year
Ola Electric likely to file IPO papers today

Market View
Even as the holidays are fast approaching, the market is not in a holiday mood. It is consolidating but at higher levels. The steady rise in the mother market US, which has helped the Dow to set a new record high, is exhibiting the same trend. The fact that the fear gauge - VIX - is at a low level of 12 is an indicator of the underlying strength of the market.

Valuations in the mid and small cap segments are excessive. Chasing mid and small caps at these valuations is risky. Going forward, large-caps are likely to outperform. Even if they don’t, safety is in large caps. Investors should give importance to safety in this time of optimism.
Declining bond yields in the US means FIIs will continue buying Indian stocks. The New Year is likely to witness a fresh bout of FII buying. Large caps like RIL which have not participated much in the rally may see action.

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