Wednesday, February 1, 2023
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HomeMarketStocksSensex Today: Market Watch: Trend reversal not in sight yet | The...

Sensex Today: Market Watch: Trend reversal not in sight yet | The Economic Times Podcast

Welcome to ETMarkets Watch, your day by day wrap-up to the day on Dalal Road. I’m Nikhil Agarwal.

The home benchmark indices continued their outperformance for the eighth straight session with each Sensex and Nifty ending at recent closing highs on hopes of much less aggressive price hikes by the US Federal Reserve.

The 30-share pack Sensex superior 184 factors to finish at 63,284, whereas its broader peer Nifty50 ended above the 18,800 mark after touching a brand new peak of 18,888 in intra-day commerce. Good points have been led by the banking and IT shares.

From the 30-share pack, UltraTech Cement, Tata Metal, TCS, Tech Mahindra, Wipro and Infosys have been the highest gainers, rising round 1.5-3% every. HCL Tech, L&T, SBI, Bajaj Finserv, HDFC Financial institution, and IndusInd Financial institution additionally closed above the flatline.

However, ICICI Financial institution, M&M, Energy Grid, Kotak Financial institution, HUL, Titan, Maruti, and Reliance ended the session with cuts.

Sectorally, Nifty IT rose 2.40% and Nifty PSU Financial institution surged 2.11%, whereas Nifty Realty and Nifty Steel additionally closed greater. Within the broader market, Nifty Midcap50 superior 0.86% and Smallcap50 rose 0.57%.

Earlier in Asian markets, Japan’s Nikkei 225 rose 0.92%, China’s Shanghai Composite elevated 0.45% and South Korea’s Kospi surged 0.30%.

The Indian rupee ended stronger towards the US greenback as international markets have been buoyed by the Fed Chair Jerome Powell’s feedback that have been much less hawkish than anticipated. The rupee closed at 81.21 per US greenback, towards its earlier shut of 81.42, whereas the Brent crude February futures rose 0.69% to $87.57 per barrel.

The market breadth was skewed in favour of bulls as about 2,074 shares gained, 1,412 declined and 150 remained unchanged. The market capitalisation of all listed corporations on BSE elevated by Rs 1.36 lakh crore to Rs 289.86 lakh crore.

Mr Nagaraj Shetti of HDFC Securities stated the optimistic chart sample like greater tops and bottoms is unbroken on the day by day chart and nonetheless there is no such thing as a indication of any greater prime reversal sample forming on the highs.

That’s all for now. Do take a look at for all of the information, market evaluation, funding methods and dozens of inventory suggestions. Get pleasure from your night. Bye Bye.

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