Markets
The Nifty’s biggest losses were IndusInd Bank, Coal India, ONGC, Adani Ports, and SBI Life Insurance, while gainers were Cipla, Sun Pharma, Bharti Airtel, ICICI Bank, and Hero MotoCorp.
The Indian equities market extended its previous session losses, with the Sensex and Nifty50 plunging 1.5 percent each amid selling across all sectors except pharmaceuticals.
The Sensex closed down 1,053.10 points, or 1.47 percent, at 70,370.55, while the Nifty fell 333.00 points, or 1.54 percent, to 21,238.80.
The benchmark indices began strong on the back of positive global markets, but with selling in most sectors and a drop in Zee Entertainment shares following the Sony Group’s termination of the merger plan, the market extended its losses as the day progressed, closing near the day’s low.
Stocks and Sectors
IndusInd Bank, Coal India, ONGC, Adani Ports, and SBI Life Insurance were the Nifty’s greatest losses, while Cipla, Sun Pharma, Bharti Airtel, ICICI Bank, and Hero MotoCorp were the top gainers.
Except for pharmaceuticals, all sectoral indices finished in the red.
The BSE Midcap and Smallcap indices were down about 3% each.545.58
| FII Sold | 545.58 Cr |
| DII Sold | 719.31 Cr |
Indian Market Stocks
| Sensex | -1,053.10 | -1.47% | 70,370.55 |
| Nifty 50 | -333.00 | -1.54% | 21,238.80 |
| Bank Nifty | -1,043.15 | -2.26% | 45,015.05 |
Market Movers
| Cipla | 92.75 7.05% | Coal India | -24.35 -6.11% |
| Sun Pharma | 52.15 3.93% | IndusInd Bank | -85.00 -5.54% |
| Bharti Airtel | 34.25 3.05% | ONGC | -12.60 -5.21% |
| ICICI Bank | 20.35 2.02% | Adani Ports | -55.30 -4.64% |
| Hero Motocorp | 42.55 0.97% | SBI Life Insura | -66.75 -4.63% |
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Markets Markets Markets Markets Markets Markets
he Indian equities market extended its previous session losses, with the Sensex and Nifty50 plunging 1.5 percent each amid selling across all sectors except pharmaceuticals.
The Sensex closed down 1,053.10 points, or 1.47 percent, at 70,370.55, while the Nifty fell 333.00 points, or 1.54 percent, to 21,238.80.
The benchmark indices began strong on the back of positive global markets, but with selling in most sectors and a drop in Zee Entertainment shares following the Sony Group’s termination of the merger plan, the market extended its losses as the day progressed, closing near the day’s low.
Stocks and Sectors
IndusInd Bank, Coal India, ONGC, Adani Ports, and SBI Life Insurance were the Nifty’s greatest losses, while Cipla, Sun Pharma, Bharti Airtel, ICICI Bank, and Hero MotoCorp were the top gainers.
Except for pharmaceuticals, all sectoral indices finished in the red.
The BSE Midcap and Smallcap indices were down about 3% each.545.58
For Nifty, the immediate resistance is around 22,050 and support at 21,500 and 21,400, Nada added.
For Bank Nifty 48,000 is a key obstacle, underlined by strong Call writing. A decisive breakout above the may unleash a rapid short-covering surge. Immediate support is at 47,200-47000, a break of which will probably prompt severe selling pressure, perhaps leading to a fall, he added.
Stocks rose over 0.5 percent after three days of fall. Nifty gapped higher on firm global cues before trading range-bound until the end. While FMCG, metal, and energy rose, banking continued to struggle, keeping traders busy. The broader indices held their outperformance and gained over 1%.
Nifty regained its short-term moving average but lacks decisiveness. We remain cautious due to banking underperformance and the 21,700-21,850 zone as a hurdle. Continue stock-specific trading and prefer hedged trades.
The Nifty opened gap up and traded narrowly all day. On daily charts, the Nifty is reversing its dip from 22124 to 21285. Between 21705 and 21804, the 50% and 61.82% fibonacci retracement levels, selling pressure will resume. Hourly momentum indicator has reached balance, indicating the pullback is nearing completion. We think the trend is down, therefore exploit this retreat to sell. Levels are 21705–21804 for imminent resistance and 21570–21500 for essential support.
Today, Bank Nifty was poor. It lost most of its gains and ended slightly positive. We expect the Bank Nifty to consolidate between 46500 and 45500 in the short term. Breaking 45500 could cause a drop to 45200–45000.
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