Business News›Markets›Stocks›Podcast›Market Watch: Weak sentiment to continue till Nifty below 17,900
Tune in now for Markets news, views & cues
Market Watch (ET Online)
Weak sentiment to continue till Nifty below 17,900
02:35 Min | February 21, 2023, 7:02 PM IST
The 30-share BSE benchmark Sensex declined 19 points or 0.03% to settle at 60,673. The broader NSE Nifty dropped 18 points or 0.10% to end at 17,827.
Transcript
Welcome to ETMarkets Watch, your daily wrap-up to the day on Dalal Street. I am Neha Vashishth.
The domestic equity markets ended flat in a volatile session on Tuesday as the prospects of the US central bank having to stay on its hawkish path weighed on sentiments. For further monetary policy clues, investors are awaiting the minutes of the latest US Federal Reserve meeting. The 30-share BSE benchmark Sensex declined 19 points or 0.03% to settle at 60,673. The broader NSE Nifty dropped 18 points or 0.10% to end at 17,827.
Among Sensex stocks, Tata Motors, Sun Pharma, Wipro, TCS and UltraTech Cement were the top laggards, falling 1-1.5%. Tech Mahindra, Bajaj Finserv and HCL Tech also ended lower. Meanwhile, NTPC, Tata Steel, Power Grid, Reliance and HDFC ended with gains.
Sector-wise, Nifty PSU Bank fell 1.79% and Nifty Realty declined 1.20%. Nifty Auto and Nifty IT also closed lower. In the broader market, Nifty Midcap50 dropped 0.43% and Smallcap50 fell 0.34%.
Asian shares were mostly lower in quiet trading and US markets were closed on the occasion of Presidents’ Day. Brent oil fell as concerns about a global economic slowdown that would reduce demand prompted investors to take profits on the previous day's gains, outweighing supply curbs.
The rupee weakened 0.08% versus the dollar, and quoted at 82.79 per dollar, tracking similar movements in the dollar index, with Asian currencies declining ahead of the release of Fed minutes.
Mr Shrikant Chouhan of Kotak Securities said as long as the index is trading below 17900, the weak sentiment is likely to continue and below the same it could slip till 17750-17700.
That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.
The domestic equity markets ended flat in a volatile session on Tuesday as the prospects of the US central bank having to stay on its hawkish path weighed on sentiments. For further monetary policy clues, investors are awaiting the minutes of the latest US Federal Reserve meeting. The 30-share BSE benchmark Sensex declined 19 points or 0.03% to settle at 60,673. The broader NSE Nifty dropped 18 points or 0.10% to end at 17,827.
Among Sensex stocks, Tata Motors, Sun Pharma, Wipro, TCS and UltraTech Cement were the top laggards, falling 1-1.5%. Tech Mahindra, Bajaj Finserv and HCL Tech also ended lower. Meanwhile, NTPC, Tata Steel, Power Grid, Reliance and HDFC ended with gains.
Sector-wise, Nifty PSU Bank fell 1.79% and Nifty Realty declined 1.20%. Nifty Auto and Nifty IT also closed lower. In the broader market, Nifty Midcap50 dropped 0.43% and Smallcap50 fell 0.34%.
Asian shares were mostly lower in quiet trading and US markets were closed on the occasion of Presidents’ Day. Brent oil fell as concerns about a global economic slowdown that would reduce demand prompted investors to take profits on the previous day's gains, outweighing supply curbs.
The rupee weakened 0.08% versus the dollar, and quoted at 82.79 per dollar, tracking similar movements in the dollar index, with Asian currencies declining ahead of the release of Fed minutes.
Mr Shrikant Chouhan of Kotak Securities said as long as the index is trading below 17900, the weak sentiment is likely to continue and below the same it could slip till 17750-17700.
That’s all for now. Do check out ETMarkets.com for all the news, market analysis, investment strategies and dozens of stock recommendations. Enjoy your evening. Bye Bye.
