Stock Market Highlights: Sensex ends 456 points lower after a choppy session


4:01 PM

Comment :: Here’s all that happened in the markets today

The domestic market sustained its consolidation trend for the third consecutive day, amid apprehensions regarding geopolitical tensions and drop in the probability of a cut rate in the short-term. Heightened concerns arose following stronger-than-anticipated US retail sales, amplifying the assumption that the US Federal Reserve might delay rate cuts, leading to a notable uptick in the dollar index and US bond yields. The IT sector saw the most significant decline, primarily due to expectations of earnings being affected by the weak discretionary spending in the US and muted domestic Q4 results.

Views by: Vinod Nair, Head of Research, Geojit Financial Services.

3:50 PM

Tech View :: Key levels to watch on Nifty Bank

The Bank Nifty index, after a shaky start, witnessed a recovery in the latter half of the session and managed to close above its 20-day moving average (20-DMA), which is situated at 47,500.

If the index sustains above the 47,500-47,400 range, it could experience a pullback towards the 48,000 level. However, a break below 47,300 on a closing basis might trigger further selling pressure, potentially driving the index down towards the 46,500 level.

Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities

3:46 PM

Tech View :: Failure to hold this level will exacerbate panic in the market…

Technically, the trend has weakened as the index fell below the 21-EMA. However, following the sharp decline, the index may find short-term support within the 21,930-22,030 bands, where previous congestion occurred.

Conversely, failure to maintain support at 21,930 could exacerbate panic in the market. On the higher end, resistance for the short term is positioned at 22,400.

Views by: Rupak De, Senior Technical Analyst, LKP Securities.

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1:39 PM

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Photo: Bloomberg


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