Wednesday, February 1, 2023
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sensex today: Market Watch: Nifty may slide down to 18,100 level next week | The Economic Times Podcast

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

Unfavourable international cues following successive fee hikes by Fed, ECB and BoE compelled benchmark fairness indices to increase their shedding streak to a second straight session on Friday. Promoting was seen throughout all sectors.

The 30-share Sensex ended 461 factors decrease at 61,338, whereas its broader peer Nifty 50 ended at 18,250 stage.

Within the Sensex pack, M&M, Asian Paints, Dr Reddy’s Lab and TCS have been the highest laggards, falling over 2%. SBI, Wipro, Energy Grid, Titan and NTPC additionally closed with cuts. However, solely HUL, HDFC Financial institution and Nestle closed with beneficial properties.

Sectorally, Nifty PSU Financial institution fell 2.92% whereas Nifty Healthcare Index declined 1.51%. Nifty IT and Nifty Pharma additionally closed increased. Whereas, within the broader market, Nifty Midcap50 plunged 1.68% and Smallcap50 dropped 0.34%.

Earlier in Asian markets, Japan’s Nikkei 225 fell 1.87% whereas South Korea’s Kospi and China’s Shanghai Composite ended flat with adverse bias.

The rupee weakened on Friday. It declined 0.1% to 82.87 per greenback, primarily on account of greenback demand from oil and different importers. Whereas the Brent crude February futures declined 2.61% to $79.09 per barrel.

The market breadth was skewed in favour of bears. About 2,115 shares declined, 1,415 gained and 132 remained unchanged.

The market capitalisation of all listed firms on the BSE declined Rs 2.94 lakh crore to Rs 285.53 lakh crore.

Mr Nagaraj Shetti of HDFC Securities mentioned Nifty may slide right down to the following necessary assist of 18100-18000 ranges within the coming week. Instant resistance is at 18450-18500 ranges.

That’s all for now. Do try 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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