Sensex falls 123 pts as investors book profit in RIL, banks, auto stocks

Stock markets update: Benchmark indices ended a volatile session near the lowest point of the day amid an intesified selling in FMCG, financial, and realty stocks, along with profit-taking in heavyweights like Reliance Industries, Tech Mahindra, TCS, L&T, and Bharti Airtel.

The 30-share BSE barometer closed at 52,852 levels, down 123.5 points or 0.23 per cent, while its NSE counterpart shut shop 32 points or 0.2 per cent lower at 15,824-mark. The broader markets, however, outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.06 per cent and 0.34 per cent, respectively.

Globally, Hong Kong's Hang Seng index plunged over 4 per cent while South Korea's Kospi slipped 0.9 per cent. Japan's Nikkei, meanwhile, gained 1 per cent. In Europe, the pan-European STOXX 600 index was down 0.34 per cent in early deals. Moreover, all three main Wall Street indices were trading in the red too.

4:06 PM

TECH VIEW :: Rohit Singre, Senior Technical Analyst at LKP Securities

Index started a week with mild losses and closed a day at 15824 & formed Doji sort of candle pattern on daily chat which hints indecision.  The index has good support around 15770-15700 zone holding above said levels we may see positive momentum to be continued towards 15900-16000 zone which are strong resistance zone & fresh upside-only possible when we see a decisive close above 16k mark until then current range of 15600-16000 will extend further.

4:06 PM

MARKET VIEW :: Ajit Mishra, VP - Research, Religare Broking

Markets traded lacklustre and ended marginally in the red, tracking mixed cues. The beginning was downbeat following negative global cues however the index managed to recoup its losses and traded in a narrow range thereafter. Finally, Nifty  ended lower by 0.2% at 15,824 levels. The broader markets too ended flat. Amongst the sectors, a mixed trend was witnessed wherein Consumer Durables, IT and Metal ended with gains while Auto, Capital Goods and Oil & Gas ended with losses. 

 

Going forward, the earnings announcement from select Nifty majors combined with global cues will dictate the trend. Meanwhile, we reiterate our view to limit leveraged positions and wait for further clarity. 

3:56 PM

TECH VIEW | Ashis Biswas, Head of Technical Research at CapitalVia Global Research

The market witnessed some lackluster movement and an attempt to hold the support level around the Nifty 50 Index level of 15800. The expected levels of the market are likely to be in the range of 15800 and 15950, and it is going to be crucial for the short-term market scenario to sustain above the 15800 Nifty50 Index level. Technical indicator suggests, a volatile movement in the market in a small range.

 

3:47 PM

CLOSING COMMENTS :: Vinod Nair, Head Of Research at Geojit Financial Services

Indian market swung between gains and losses in today’s volatile trade reflecting weak global peers as investors await a slew of quarterly earnings. Chinese education, property, and tech sectors fell sharply after tighter government regulations. Globally, markets are awaiting the upcoming Fed meeting this week to have clarity regarding the timing of asset purchase tapering. 

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CLOSING BELL : Sensex, Nifty snap 2-day winning streak on weak global cues

BSE Sensex declined 124 points or 0.23 per cent to 52,852. NSE Nifty settled at 15,824, 32 points or 0.20 per cent lower. 

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Shares of Persistent Systems hit a new high of Rs 3,294.95, up 8 per cent on the BSE in the intra-day trade on Monday, having surged 16 per cent in the past two trading days, after the company reported a strong set of numbers for the quarter ended June 2021 (Q1FY22). Besides, in the past three months, the stock of information technology (IT) consulting & software company has zoomed 70 per cent, as compared to a 9 per cent rise in the S&P BSE Sensex. READ MORE