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Sensex Halts 5-Day Winning Run, Ends 12 Points Lower, Nifty Holds 18,250; Asian Paints, Axis Bank Top Drags

The general market breadth stood barely constructive as 2,068 shares superior whereas 1,334 declined on BSE.

New Delhi: The Indian fairness benchmarks on Friday settled in crimson, halting a five-day profitable run amid weak world cues. The 30-share BSE Sensex fell 12 factors or 0.02 per cent to shut at 61,223, whereas the broader NSE Nifty slipped 2 factors or 0.01 per cent to settle at 18,256. Sensex recovered greater than 450 factors from its intraday low of 60,757 earlier than settling a tad decrease.

Global markets took a beating after extra Federal Reserve policymakers signalled they are going to begin to increase U.S. rates of interest in March to fight inflation. Fed Governor Lael Brainard turned the newest and most senior U.S. central banker to sign that charges will rise in March to fight inflation.

Back dwelling, mid- and small-cap shares completed on a blended observe as Nifty Midcap 100 index barely declined 0.02 per cent and Nifty Smallcap 100 index gained 0.75 per cent.

12 out of the 15 sector gauges — compiled by the National Stock Exchange — settled in crimson. Nifty FMCG (fast-moving client items) underperformed the index by sliding as a lot as 0.71 per cent.

“The winning streak of market was put to a halt on Friday. However, we saw some buying in quality counters in small-cap space. In coming days, we expect movement in markets to be sector-specific. However, mid- and small-cap space will show a good move in coming days. Overall, the market outlook looks positive and one should look to keep adding quality stocks in their portfolio. Traders should trade into sector-specific stocks, keep booking their profit and trail strict stop-loss,” Rahul Sharma, Co-owner, Equity 99, instructed NDTV.

“For Nifty 50, after today’s fall, 18,200 will act as very crucial support on breaking which we might see 18,120 levels. On the upper side, 18,300 will act as a crucial hurdle, if this level is breached, we might see 18,370 levels and then even 18,480 looks possible,” he added.

On the stock-specific entrance, Asian Paints was the highest Nifty loser because the inventory cracked 2.67 per cent to Rs 3,364. Axis Bank, UPL Ltd, Hindustan Unilever and ONGC have been additionally among the many laggards.

On the flipside, Tata Consumer Products, Indian Oil, Tata Consultancy Services, Infosys and Adani Ports have been among the many gainers.

The general market breadth stood barely constructive as 2,068 shares superior whereas 1,334 declined on BSE.

On the 30-share BSE platform, Asian Paints, Wipro, Mahindra & Mahindra, Axis Bank and HDFC attracted essentially the most losses with their shares falling as a lot as 2.66 per cent.

TCS, Infosys, Larsen & Toubro, HDFC Bank, Tech Mahindra and Kotak Mahindra Bank have been among the many gainers.

Meanwhile, HCL Technologies, Ashirwad Capital and Gujarat Hotels are a few of the firms which can announce their respective third-quarter numbers later within the day.

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