Sensex snaps 7-day winning run, falls 288 pts; RIL slips 1.5%, Nestle 3%

CLOSING BELL: The top drags were Nestle, Bajaj Finserv, HUL, Kotak Bank, RIL, HDFC, Bajaj Finance, Asian Paints, and IndusInd Bank as they fell in the range of 1 per cent to 3 per cent

4:14 PM

Tech view: Nifty expected to remain strong, may test 17,950

"The benchmark index Nifty remained volatile during the day before closing on a negative note. On the daily chart, it formed a bearish candle. During the day the Nifty remained above the previous consolidation high, suggesting a rise in optimism. Over the short term, the trend is expected to remain strong. On the higher end, resistance is visible at 17,950. On the lower end, support is placed at 17,550/ 17,400."

 

- Rupak De, Senior Technical Analyst at LKP Securities

4:13 PM

Bank Nifty view: Bias remains buy on dip; fresh gains likely above 41,500

"The Bank Nifty index after a gap-up opening witnessed some profit booking around 41,500 levels. The index remains in a buy-on-dip mode with strong support at the 40,500-40,000 zone where aggressive put writing has been witnessed. The index once breaches above 41,500 will witness an extension of the up move towards 42,000 where the highest open interest is built up on the call side."

 

- Kunal Shah, Senior Technical Analyst at LKP Securities 

4:10 PM

COMMENT:: Market pared gains owing to selling in FMCG, private bank shares

"The domestic market pared its early gains with FMCG and private banks pressuring the benchmark. Market attention has shifted to central bank policy announcements since the European Central Bank is expected to hike interest rates at its upcoming policy meeting. The impending US GDP data will give additional clarity to the expectation that the Fed will temper its aggression in regard to rate hikes."

- Vinod Nair, Head of Research at Geojit Financial Services

 

4:07 PM

SBI hits record high on hopes of strong Q2 earnings; stock up 11% in 8 days

SBI's core fundamentals continue to be on a strong footing and improvement in systemic growth should drive incremental re-rating for the stock, according to analysts. READ MORE

 

4:05 PM

Hindustan Unilever slips 5% in two days post September quarter earnings

The company's cost savings programme and tweaking of marketing spends would help it maintain higher operating margins, analysts said. READ MORE

4:02 PM

Nykaa hits record low; slips below issue price with 15% decline in 1 month

With the recent fall, the market price of Nykaa has tanked 56 per cent from its record high level of Rs 2,574, which it had touched on November 26, 2021. READ MORE

 

3:55 PM

Market breadth negative; 111 stocks hit new 52-week high

3:52 PM

Nifty PSU Bank index soars 3.5%; Bank of India zooms 9%

3:50 PM

Broader indices end on a mixed note; India VIX slips 3%

3:48 PM

Nifty 50:: Top losers - Britannia, Kotak Bank, Hindustan Unilever

3:46 PM

Nifty 50:: Tech Mahindra, Maruti, JSW Steel top gainers

3:39 PM

Sensex 30 Heatmap:: Tech Mahindra, Maruti shine; Nestle, Hindustan Unilever whine

3:37 PM

NSE Nifty 50 sheds 74 pts, settles at 17,656

3:35 PM

Closing Bell:: Sensex ends 288 pts lower at 59,544

The S&P BSE Sensex ended 288 points lower at 59,544 on Tuesday. In the process the BSE benchmark index broke its seven-day winning streak, wherein the index had gained 2,598 points.

3:25 PM

Global Check:: US, UK stock futures marginally in red, down up to 0.7%

Source: Investing.com