Stock Market Today: Nifty, Sensex End Lower Before Q3 Earnings Season Kick-Off; ONGC Top Loser
The NSE Nifty 50 ended 162.45 points or 0.69% lower at 23,526.5, while BSE Sensex lost 528.28 points or 0.68% to close at 77,620.21.
KEY HIGHLIGHTS
Markets At Close
Nifty and Sensex end lower for the second day in a row.
Intraday, both the indices lost more than 0.7%.
Nifty ends 0.69% or 162.45 points lower at 23,526.5.
Sensex down 528.28 points or 0.68% to close at 77,620.21
Broader indices also decline. Nifty Midcap 100 ended 0.93% down; Nifty Smallcap 250 closed 1.17% lower.
Most sectoral indices decline, led by Nifty Realty.
Bajaj Auto, Nestle India were top Nifty gainers.
ONGC, Shriram Finance fell the most.
US Futures Decline
As of 3:26 p.m., the Dow Jones Industrial Average future was 0.03% down at 42,867.00, and the S&P Future was 0.13% down at 5,951.50. The Nasdaq future was 0.26% down at 21,306.00.
Rupee Ends At Record Closing Low Against US Dollar
Rupee weakened by 1 paise to close at 85.86 against the US Dollar. -The currency fell as low as 85.94 during the session. It closed at 85.85 on Wednesday.
Source: Bloomberg
Stock Market Live Updates: Nifty, Sensex End Lower
Indian equities ended lower for a second day in a row as investors shed their risk appetite and raised guard before the start of the third quarter earnings season. Information technology, financials and oil and gas stocks declined while
The NSE Nifty 50 ended 162.45 points or 0.69% lower at 23,526.5, while BSE Sensex lost 528.28 points or 0.68% to close at 77,620.21. During the session, the Nifty declined as much as 0.78% to an intraday low of 23,503, while the Sensex fell 0.77% to 77,543.
Nifty is close to the lower end of the 23,500-23,900 range and a further downturn will take it to November lows of 23,275 will come into play, said market expert Kush Bohra.
"If you hold a short position, then not a bad idea with a trailing stoploss. We have seen a rebound from 23,500 level in the last 10-15 session," he said, adding the Put Call Ratio (PCR)--a technical indicator that helps investors and traders gauge the market's sentiment -- is close to oversold territory.
Bank Nifty continues to remain under pressure and a shorting proposition, he said.
Rajesh Palviya, research analyst at Axis Securities, said Bank Nifty, which remained under pressure for the second day, will see further downside from 49,500 to 49,000 level where the most put-based concentration is observed. "Sell on rise is the strategy," he said.
HDFC Bank Ltd., ICICI Bank Ltd., Larsen & Toubro Ltd., Trent Ltd. and Apollo Hospitals Enterprise Ltd. weighed on the Nifty the most in terms of points contribution.
Reliance Industries Ltd., ITC Ltd., Tata Consultancy Services Ltd. and ONGC led the gains in the index.
Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.96% and 1.17% down, respectively.
On BSE, 20 sectors advanced and one declined out of 21. The BSE Realty declined the most, while the BSE FMCG only sector was the only sector to log gains.
Market breadth was skewed in favour of sellers. Around 2,728 stocks declined, 1,229 stocks advanced, and 110 stocks remained unchanged on BSE.
IGL Business Update
Domestic Gas Allocations To Company Revised Upwards By 31% Effective Jan. 16.
Share Of Domestic Gas In CNG Segment Increased To 51% From 37%.
Source: Exchange Filing
Stock Market Live: Smallcaps Fare Poorly Than Nifty
The Nifty Smallcap 250 is down 0.9% and Nifty Midcap 150 by 0.5%. This compared to 0.7% decline in the Nifty 50.
