Market Outlook- Nifty, Sensex end in red; markets following global cues, traders should restrict positions
时间:2024-06-26 16:46:00 阅读(143)
Indian benchmark indices closed on a negative note on Friday. BSE Sensex dropped 316.94 points to settle at 61,002.5 while Nifty lost 0.5%, closing under the 18,000 level at 17,944. After the initial downtick, the Nifty index tried to pare losses but continuous selling in the banking majors combined with a downtick in the IT majors pushed the index lower. The broader markets also closed largely in the red, as Nifty Oil & Gas was the only sectoral gainer. Bank Nifty declined 1.2%, dragging the indices.Markets Decoded: Indian markets following global cues
Interest rates to remain high: Vinod Nair, Geojit Financial ServicesLack of major triggers in the domestic market is attracting global cues to dictate the market trend. The US market is facing an unfavourable combination of higher-than-expected inflation and a stronger job market. The PPI (Producer Price Index) in the US came in at 6.0%, in contrast to the expectation of 5.4%. This suggests that interest rates have not yet peaked and will remain elevated for a long period.
Selling pressure to accelerate under 17,900: Amol Athawale, Kotak SecuritiesMarkets witnessed turbulence on the back of weak global cues as investors booked profit in banking, IT and telecom stocks. Rising inflation, US bond yields, and dollar index are once again creating a lot of uncertainty amongst the investors. For the bulls, 17,900-17,800 or 20 day SMA would act as a key support zone while 50 day SMA or 18,100 and 18,200 could be the immediate hurdle. On the flip side, the selling pressure could accelerate if the index slips below 17,800 and in case of further correction, it could slip to 17,700-17,650.
Nifty to remain sideways: Rupak De, LKP SecuritiesNifty has fallen to the upper band of the falling channel on the daily chart. The trend for the near term is likely to remain sideways to positive as long as it remains above the falling channel. A recovery towards the higher level will likely happen if the bulls manage to hold the Nifty above 17,880. On the higher end, however, 18,150 is likely to act as resistance.
猜你喜欢
- World Economic Forum 2022- India has no immediate plan to lift wheat export ban, says Piyush Goyal
- India’s bond traders eye debt sale demand as 10-year yield below key level
- Wipro’s Q2 results place stock under pressure- Should you buy, hold or sell the stock-
- US Stocks- Wall Street rises as rate hike fears ebb
- Investors subscribing MFs from Aug to get choice of providing nomination- Sebi
- Investors throng to Gold ETFs; invest Rs 124 crore in ‘safe haven’ asset class
- IPL 2023- From ‘Gambhir’ gesture to ‘Virat’ shot, King Kohli’s myriads of mood in cricket battleground - In Pics
- World Food India 2023- PM Modi inaugurates mega food event – See photos
- Zomato share price falls to new low; may be attractive to buy now, says Jefferies, eyes over 100% gain