Monday, February 6, 2023
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HomeMarketStockssensex today: Market Watch: Nifty may break lower support of 17,800 in...

sensex today: Market Watch: Nifty may break lower support of 17,800 in short 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.

Monitoring weak world cues, the home fairness market on Tuesday misplaced most of Monday’s good points, with the Sensex ending with a lack of 632 factors and Nifty ending under the 18,000 mark. Traders ignored some great benefits of a weaker greenback, optimism round China’s reopening, and decrease crude oil costs amid fears associated to Federal Reserve’s pivot and recession.

Immediately’s draw back left Dalal Road buyers poorer by Rs 2.15 lakh crore as the full market capitalisation of all BSE-listed shares got here all the way down to Rs 280.84 lakh crore.
The sell-off was seen throughout sectors, barring auto, with the worry gauge index India VIX rising round 6%. Banks, financials and IT shares had been among the many greatest sectoral losers because the Q3 earnings season started this week. From the Sensex pack, Bharti Airtel and SBI had been the highest laggards, falling about over 2% every. Nevertheless, Tata Motors on the again of sturdy world wholesale numbers in Q3 closed with 6% good points.

Whereas Japan’s Nikkei closed at a 2-week excessive on tech increase, different Asian markets had been below stress.

The rupee completed the session at 81.78 per greenback, taking its day’s good points to 0.71%, its greatest single-day acquire in 2 months.

Mr Nagaraj Shetti of HDFC Securities mentioned the quick time period pattern of Nifty continued to be weak and the market is anticipated to interrupt down the decrease assist of 17800 ranges within the quick time period.

That’s all for now. Do try 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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