Equities settle low for second straight session; Sensex slips 656 pts (2nd Ld)

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New Delhi, Jan 19 | The Indian equity indices — S&P BSE Sensex and NSE Nifty50 — settled sharply lower for the second consecutive session on Wednesday.

Till Monday, indices had been consistently trading on a positive note for over a week or so.

On Wednesday, the Sensex and Nifty settled at 60,098 points and 17,938 points, down 1.1 per cent or 656 points and 1.0 per cent or 174 points from their previous close, respectively.

Among the sectoral indices, Nifty IT tanked the most, NSE data showed.

“Globally, risk sentiments took a blow as rising inflation resulting in elevated bond yield along with the ongoing geopolitical tensions and surge in oil prices weighed on investor confidence,” said Vinod Nair, Head of Research at Geojit Financial Services.

“This, along with consistent FII selling, forced the domestic market to trade in favour of bears for the second consecutive day,” he added.

On the stocks front, Infosys, Shree Cement, Asian Paints, Adani Ports, and Hindustan Unilever fell the most, declining 2.9 per cent, 2.8 per cent, 2.7 per cent, 2.5 per cent, and 2.4 per cent, respectively, exchange data showed.

ONGC, Tata Motors, UPL, Coal India, Maruti Suzuki India, on the other hand, were some of the top gainers during Wednesday’s trade.

Source: IANS

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Share Market Closing Bell: Market ends marginally lower amid volatility

Share Market Closing Bell: Market ends marginally lower amid volatility

Dalal Street witnessed tug of war between bulls and bears as Sensex settled at 54208.53 losing 109 points or 0.20 percent and Nifty ended at 16240.30 with loss of 19 points. Bank nifty closed the session at 34163.70 levels with loss of 138 point after erasing early session gain.

BSE Midcap and BSE Small cap indices turned flat after rising around half a percent each. On the sectorial front, Nifty Pharma and FMCG have contributed a percent each on a closing basis. On the flip side Nifty Realty, Nifty PSE ended with losses of 1.75 percent and 1.73 respectively. In Nifty stocks, TATACONSUM, CIPLA and ADANI PORT were the top gainers while POWERGRID, BPCL and TECHM were the prime laggards.

In the daily chart Nifty has ended with a bearish candle. However 16200 levels are protected throughout the day. Index might face high volatility on weekly expiry day. Riding against the trend may not be beneficial for short term traders. According to volume profile 16100 and 16000 may act as immediate support.

Indicators such as MACD and RSI are still struggling to overcome from oversold zone in the daily time frame. From the time cycle prospect Index would remain highly volatile till 27th May of this month. Bollinger band indicates 16650 would remain strong resistance in coming days. On the other hand, Bank nifty has support at 33400 levels while resistance at 35000 levels.

Om Mehra
Research Associate
Choice Broking

Source: Choice India

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