Tuesday, February 7, 2023
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sensex today: Market Watch: Market trend likely to remain weak in near term | The Economic Times Podcast

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

After 4 days of continuous promoting, Indian fairness indices rallied round 1% on Monday following a optimistic development in world markets. Shopping for was seen throughout all sectors besides pharma and healthcare shares. The market capitalisation of all listed firms on the BSE has elevated by Rs 5.79 lakh crore to Rs 277.91 lakh crore.

The 30-share Sensex ended 721 factors increased at 60,566, whereas its broader peer Nifty 50 ended above the 18,000 mark. Within the Sensex pack, SBI, IndusInd Financial institution, Bajaj Finserv, Tata Metal, ITC and Axis Financial institution had been the highest gainers, rising 2-4%. HDFC Financial institution, UltraTech Cement, NTPC, Tata Motors and ICICI Financial institution additionally closed with positive factors.

However, Nestle, Kotak Financial institution, Bharti Airtel, HCL Tech, HUL and Solar Pharma closed with cuts. Sectorally, the Nifty PSU Financial institution rose 7.29% and Nifty Media surged 2.85%. Whereas auto, realty, financials, IT, FMCG and steel shares additionally closed increased. Whereas, within the broader market, Nifty Midcap50 elevated 2.32% and Smallcap50 superior 3.52%.

Earlier in Asian markets, China’s Shanghai Composite rose 0.65%, Japan’s Nikkei 225 surged 0.66% and South Korea’s Kospi gained 0.15%. The rupee firmed barely on Monday, in tandem with the power within the broader markets. The rupee ended at 82.65 per greenback after touching a excessive of 82.64 throughout the session. It closed at 82.8575 on Friday.

The market breadth was skewed in favour of bulls. About 2,874 shares gained, 762 declined and 132 remained unchanged. Mr Rupak De of LKP Securities stated the momentum indicator stays with a bearish crossover, implying weak point. The development is more likely to stay weak over the close to time period. The helps are pegged at 17,950/17,800, whereas on the upper finish, resistance is positioned at 18,100.

That’s all for now. Do take a look at ETMarkets.com 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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