Stocks

Sensex top gainers: Market Watch: Nifty undergoing a small pullback after recent rise

Welcome to ETMarkets Watch, your daily wrap-up to the day on Dalal Street. I am Nikhil Agarwal.

Benchmark equity indices reversed their intra-day gains to end with a fall on Tuesday, dragged by the index heavyweight, Reliance, financial and private bank stocks. The 30-share Sensex ended 288 points lower at 59,544, while its broader peer, Nifty50, ended just above the 17,650 mark.

Among Sensex stocks, Nestle, HUL, Bajaj Finserv, Kotak Bank, HDFC and Reliance were the top gainers in today’s trading session, falling around 1.5-2.5 per cent. Bajaj Finance, Asian Paints, Axis Bank, IndusInd Bank and HDFC Bank also settled lower. However, Tech Mahindra, Maruti, L&T and Dr Reddy’s Labs ended the session with gains. Sectorally, the Nifty PSU Bank rose 3.50 per cent, and Nifty Auto surged 1.24 per cent. While Nifty Pvt Bank and Nifty FMCG closed lower. In the broader market, Nifty Midcap50 rose 0.47 per cent while Smallcap50 fell 0.45 per cent.

Earlier in Asian markets, Japan’s Nikkei 225 rose 1.02 per cent while China’s Shanghai Composite and South Korea’s Kospi plunged 0.04 per cent and 0.05 per cent, respectively.

The Indian rupee ended slightly lower versus the US dollar, weighed down by dollar demand from importers amid lower-than-usual volumes. The rupee closed at 82.725 per US dollar against 82.675 in the previous session. While Brent crude January futures declined 1.25 per cent to $90.07 per barrel.

The market capitalisation of all listed companies on BSE decreased by over Rs 85,000 crore to Rs 275.62 lakh crore. The market breadth skewed in favour of bears. About 1,982 stocks declined, 1,438 gained, and 109 remained unchanged.

Mr Deepak Jasani of HDFC Securities said Nifty is undergoing a small pullback after the recent rise. 17778-17811 could be the resistance for the Nifty in the near term while 17568-17584 band could provide support.

That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button