Sensex closes with deep cuts, Nifty below 16150 could fall to 15850; check support, resistance levels
时间:2024-06-26 10:29:57 阅读(143)
BSE Sensex and NSE Nifty 50 settled nearly 2 per cent lower on Friday tracking losses in global peers. BSE Sensex tanked 1,017 points or1.84 per cent to settle at 54,303, while NSE Nifty 50 index finished at 16,202, down 276 points or 1.68 per cent. Index heavyweights such as Reliance Industries Ltd (RIL), Housing Development Finance Corporation (HDFC), Infosys, HDFC Bank, Kotak Mahindra Bank, ICICI Bank, among others contributed the most to the indices’ loss. In the broader market, S&P BSE Midcap index lost 0.6 per cent or 145 points to end at 22,490, while S&P BSE Smallcap index declined 0.7 per cent or 182 points to shut shop at 25,857. On the sectoral front, Nifty Bank index lost 1.7 per cent to settle at 34,484. India Vix, the volatility index, was up 2.3 per cent to finish at 19.6 levels.
Deepak Jasani, Head of Retail Research, HDFC Securities
Ajit Mishra, VP – Research, Religare Broking
Markets will continue to take cues from the global markets in absence of any major domestic event. First, participants will react to the US inflation data and upcoming macroeconomic data (IIP, CPI & WPI) will also be in focus. While the index is gradually inching lower, a mixed trend on the sectoral front is offering opportunities on both sides so traders should align their positions accordingly.
Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities
Indian equity markets ended the week on a negative note. Major key indices and sectoral indices declined during the week. Amid persistent inflation, Central Banks continued with monetary policy tightening. RBI hiked repo rate by 50 bps to 4.9%. European Central Banks decided to end net asset purchases under its asset purchase programme and also signaled towards rate increase in its July monetary policy meeting. Crude oil prices inched up with Brent crude trading above $120 per barrel mark. The US 10-year treasury yield again moved above 3%. FII’s continued with their selling of Indian equities. Monsoon progress needs to watched out for as a good monsoon will calm concerns about further food inflation. However, inflation, commodity price movement and Central bank measures are critical factors for market performance over the near to medium term.
Amol Athawale, Deputy Vice President – Technical Research, Kotak Securities
The pessimistic mood across several global markets had a rub off effect on local equities as nagging issues like rising interest rate scenario, higher inflation levels and persistent FII selling spooked markets. Bigger concerns of stagnating growth and its effect on corporate earnings going ahead is also making investors nervous, resulting in periodic selloffs. Technically, after a long time, the Nifty closed below 20 day SMA and, on intraday charts, it is consistently forming a lower top formation which is largely negative. On weekly charts the index has formed a long bearish candle indicating further downtrend from the current levels. If the Nifty falls below 16150, it could slip up to 16000-15850 levels. On the flip side, a fresh pullback rally is possible only after the 16300 breakout. Above which, the index could move up to 16400-16500.
猜你喜欢
- Markets trade at fair valuations on expectations of sustained growth in revenues; banks, financials to improve
- Birla Estates buys land parcel in South Mumbai to build luxury homes, eyes revenue of more than Rs 600 cr
- Markets Wrap – Mon, 16 Jan ‘23- Stocks plunge, rupee falls; Asia, Europe markets, Gold, Crude, Crypto updates
- Boost for shipbuilders- Mazagon Dock zooms 4%; wins third order in 10 days
- MCX crude near its resistance zone; OPEC lifts its crude oil demand forecast for 2023 to 2
- Apollo Tyres, Bharti Airtel among 130 BSE stocks to hit 52-week highs, 18 fall to 52-week lows
- MCX Gold displays a bearish reversal trend as traders fear US Fed rate hike; further correction likely
- As the US SEC warms up to spot Bitcoin ETFs, is this a sign of better things to come-
- Billionaire Rajiv Jain says will double $2 billion Adani group investment in 5 years; yet Adani scrips fall