Sensex sheds 237 pts dragged by HUL, RIL, Infosys; Nifty ends below 18,050
Closing Bell: Broader markets bled more than benchmarks with the BSE Midcap and Smallcap indices falling up to 0.7 per cent
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BSE
CLOSING BELL
Equity markets ended Friday's choppy trade with nominal cuts pulled down by losses in select heavyweights such as Reliance(1 per cent), HUL( 4 per cent), Asian Paints (3 per cent) and Infosys (1 per cent).
The BSE Sensex closed 237 points lower at 60,622 after it touched an intra-day high of 61,001. The NSE Nifty reached the day's high of 18,145 before fizzling out gains and closing 80 points down at 18,028.
The other top frontline drags included Bajaj twins, Nestle, L&T, Bharti Airtel, Maruti, Tech M, Sun Pharma, JSW Steel and HDFC Life, which lost 1-3 per cent.
While Coal India, Power Grid, HDFC twins, ITC, ICICI Bank, SBI, Tata Motors, Axis Bank, and NTPC were among the handful of index gainers.
Broader markets bled more than benchmarks with the BSE Midcap and Smallcap indices falling up to 0.7 per cent.
Within sectors, Nifty consumer durables, FMCG, metals, realty and pharma indices suffered the most losses ending around 1 per cent lower each, while bank and financial pockets held ground and logged fractional gains.
Buzzing stocks: Read why HUL, PVR slumped 4 per cent each on Friday.
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TECHNICAL VIEW: Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas
The Nifty continued to consolidate just above the 20 WMA for yet another week. On the weekly chart, it has formed a Doji pattern for the second consecutive week. This shows indecision in the minds of the market participants. The daily chart reveals that the index has moved out of a base triangle formation. Post the breakout, however, the Nifty is witnessing a brief consolidation before it embarks on a larger up move. Immediate support is at 18000 where fresh buying interest can be seen. The short term bullish stance holds true as long as the Nifty trades above the swing low of 17760. On the higher side, the Nifty is expected to surpass the key hurdle zone of 18260-18300 & head towards 18500.
MARKET COMMENT: Vinod Nair, Head of Research at Geojit Financial Services
Shaking off the weak lead from Wall Street, domestic indices attempted to trade higher due to economic optimism that stemmed from China’s reopening. However, concerns over the global economic slowdown eventually caught up and dragged markets lower. All sectors bled, barring banking stocks, ahead of the release of key earnings by private banking majors.
Over 1,500 stocks advanced, while 1,912 declined
HUL, Asian Paints, Bajaj Finance top Nifty50 losers
Coal India, Power Grid, HDFC Bank top Nifty50 gainers
Nifty Media index worst sectoral performer; PVR falls 4%
Broader markets subdued; India VIX slips over 1%
Nifty Bank index defy dull market mood, ends with marginal gains
SENSEX HEATMAP: Only 9 out of 30 index constituents close in green
CLOSING BELL: Nifty50 closes below 18,050 levels, down over 50pts
CLOSING BELL: Over 200 points fall for Sensex, closes at 60,621
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First Published: Jan 20 2023 | 8:43 AM IST
