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After The Bell: Carnage on D-Street! What should investors do on Thursday?

As long as Nifty remains below 14200 zones, a bounce could be sold and weakness may be seen towards 13800 levels while on the upside key hurdle exists at 14200 and 14350 levels.

January 27, 2021 / 04:34 PM IST

It was nothing short of a bloodbath on D-Street. Bears were in complete control of D-Street on January 27 from the word go pushing the S&P BSE Sensex lower by about 1000 points while the Nifty50 breached 14000 levels on the downside for the first time since January 4.

Let’s look at the final tally on D-Street – the S&P BSE Sensex plunged 937 points to 47,409 while the Nifty50 was down 271 points to close at 13,967. The NiftyBank was down nearly 3 percent to close at 30,284.

Sectorally, selling pressure was seen in Banks, Finance, Metals, Realty, Auto, Energy, oil & Gas which were down more than 2 percent each.

Sensex59,500.41169.51 +0.29%
Nifty 5017,648.9544.60 +0.25%
Nifty Bank40,387.4542.15 +0.10%
Nifty 50 17,648.95 44.60 (0.25%)
Mon, Jan 30, 2023
Biggest GainerPricesChangeChange%
Adani Enterpris2,892.85131.40 +4.76%
Biggest LoserPricesChangeChange%
Power Grid Corp211.85-7.40 -3.38%
Best SectorPricesChangeChange%
Nifty IT30094.85328.35 +1.10%
Worst SectorPricesChangeChange%
Nifty Energy23434.70-735.25 -3.04%

This decline on Nifty of 800 points from the top ought to be seen as a healthy correction and an interim consolidation phase before the markets begin the next leg of movement.  We continue to remain upbeat on Indian equities in the medium-term given the resilient economic and corporate recovery.

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