Benchmark indices fell for the third straight session on Monday and closed nearly 1 per cent lower amid a weak trend in global equities. The Sensex closed at 61,144.84, down 518.64 points or 0.84 per cent. During the day, the index fell 604.15 points, or 0.97 per cent, to 61,059.33. The Nifty closed 147.70 points, or 0.81 per cent, down at 18,159.95.
Reliance Industries (1.83%), HDFC (1.80%), Tata Consultancy Services (1.78%), Tech Mahindra (1.78%), Infosys (1.61%) and Bajaj Finance (1.56%) were the top Sensex losers.
Bharti Airtel (1.70%), Axis Bank (1.22%), IndusInd Bank (1.21%), Hindustan Unilever (0.76%) and Power Grid (0.39%) were among the top Sensex gainers.
The market cap of BSE-listed firms fell to Rs 280.91 lakh crore today as against a market cap of Rs 282.30 lakh crore in the previous session.
Shrikant Chauhan, head of equity research (retail), Kotak Securities, said, “Weakness in Asian and European indices triggered selling in domestic equities. Valuations also looked elevated, due to which local traders got some profit-booking opportunities.” are using.” Also, some Fed officials have said that rate hikes will not stop until inflation is under control, making investors nervous about the prospects for further increases. Technically, after a long The index closed below the 10 day SMA (Simple Moving Average) and has also formed a bearish candle on the daily charts which is largely negative. We expect 18,250 to act as a major resistance zone for the market and if the index slips below this, it may retest 18,050-18,000. On the other hand, above 18,250, the index may move higher towards 18400-18450. Contra traders can place bets near 18000 with a tight 17950 support stop loss.
The market breadth was negative with 1,510 scrips falling against 2083 scrips on the BSE. There was no change in 179 shares. IT, metals and oil & gas stocks were the top losers in their BSE indices, falling 435 points, 177 points and 145 points, respectively.
Foreign institutional investors (FIIs) sold shares worth Rs 751.20 crore on Friday, according to exchange data.
Indian equity markets on Friday closed with losses for the second consecutive session, erasing early gains amid a mixed trend in global equities. The Sensex closed at 61,663.48, down 87.12 points or 0.14 per cent. During the day, the 30-stock index fell 413.17 points, or 0.66 per cent, to 61,337.43. The Nifty closed 36.25 points, or 0.20 per cent, down at 18,307.65.
Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong ended with losses, while Tokyo closed higher. Equity exchanges in Europe were trading in the negative zone in afternoon trade. Wall Street closed with gains on Friday. International oil benchmark Brent crude was trading 0.91 per cent lower at $86.82 per barrel.
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