Transcript
Hi all, welcome to ET Market Watch - your daily podcast for daily stock market wrap-up. I am Neha Vashishth, let's start! Despite positive cues from global peers, BSE and NSE closed marginally lower and were dragged by IT and auto stocks.
Sensex declined 0.07% and settled at 57,613 while Nifty dropped 0.20% to end at 16,952.
Now coming to today's gainers and losers:
Tech Mahindra, Tata Motors and Bharti Airtel were the top laggards, falling 2-3%. Wipro, Bajaj Finserv, HCL Tech, Bajaj Finance and L&T also ended with losses. On the other hand, IndusInd Bank, Power Grid, HDFC Bank, ICICI Bank and NTPC ended with gains.
Adani Group companies remained under the pressure - Adani Enterprises ended over 7% lower on BSE. Meanwhile, Adani Green Energy, Adani Transmission, Adani Power, Adani Total Gas, Adani Wilmar and NDTV closed with a 5% lower circuit.
Sectorally, Nifty Realty and auto declined. Nifty Bank and Nifty Financial Services closed higher. Nifty Midcap50 dropped 0.30% and Smallcap50 plunged 0.74%.
Expert view:
Getting into technicals - Jatin Gedia, Technical Research Analyst at Sharekhan, said, "Nifty witnessed yet another day of range-bound price action. It consolidated between 16900 – 17100 for the third straight session. On the upside initial targets are placed at 17200 and above that it can extend higher to 17450 – 17500. The crucial support zone is placed at 16910 – 16870."
Coming to Global Markets
Thanks to the sale of Silicon Valley Bank - Most Asian markets traded higher after global shares rebounded,Hong Kong rose more than 1%, while Shanghai was down. Tokyo closed higher, while Sydney, Singapore and Seoul also gained.
Well, that's all for today on ET Market Watch. Stay tuned for everything stock market related & more.