Tuesday, February 7, 2023
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HomeMarketStockssensex today: Market Watch: Momentum looks weak in near term | The...

sensex today: Market Watch: Momentum looks weak in near term | The Economic Times Podcast

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

Benchmark indices ended within the detrimental territory for the second straight day on Thursday in extremely risky commerce, dragged down by banking, monetary and IT shares.

The Nifty50 index closed 51 factors or 0.28% decrease at 17,992, whereas S&P BSE Sensex fell 304 factors or 0.50% to settle at 60,353.

From the Sensex pack, Bajaj Finance and Bajaj Finserv had been the highest laggards, falling over 7%. ICICI Financial institution, Infosys, Titan, Energy Grid, Axis Financial institution and HDFC Financial institution additionally closed with losses. Nonetheless, ITC, HUL, NTPC, M&M, Nestle and L&T closed with features.

Sector-wise, the Nifty Monetary Companies fell 1.18% and Nifty Financial institution 0.81%. Whereas metallic, auto, pharma, realty, oil & gasoline and FMCG shares closed larger. Within the broader market, Nifty Midcap50 surged 0.72% and Smallcap50 ended flat.

The Nikkei ended the day up 0.4%, China’s blue-chip CSI 300 Index closed up 1.9%, and the Shanghai Composite Index rose 1%.

The rupee strengthened 0.31% versus the greenback, and quoted at 82.52 per US foreign money, buoyed by an uptick in most Asian currencies and an extra decline in oil costs.

Brent crude was up $1.22, or 1.6%, to $79.06 a barrel at 0922 GMT, whereas US West Texas Intermediate crude futures gained $1.02, or 1.4%, to $73.86.

Analysts stated the day by day momentum indicator was in a bearish crossover, suggesting weak value momentum within the close to time period.

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. Take pleasure in your night. Bye Bye.

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