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February 14, 2022 / 04:18 PM IST

Closing Bell: Nifty breaches 16,900, Sensex tanks 1,747 pts on global sell-off amid Ukraine-Russia tensions

All the sectoral indices ended in the red with auto, bank, oil & gas, PSU Bank, pharma, FMCG, metal, realty and capital goods indices shed 2-6 percent. BSE Midcap and Smallcap indices lost 3-4 percent.

  • IndexPricesChangeChange%
    Sensex59,462.78130.18 +0.22%
    Nifty 5017,698.1539.15 +0.22%
    Nifty Bank39,042.30162.45 +0.42%
    Nifty 50 17,698.15 39.15 (0.22%)
    Fri, Aug 12, 2022
    Biggest GainerPricesChangeChange%
    ONGC139.206.40 +4.82%
    Biggest LoserPricesChangeChange%
    Divis Labs3,726.20-221.85 -5.62%
    Best SectorPricesChangeChange%
    Nifty Energy27163.95502.20 +1.88%
    Worst SectorPricesChangeChange%
    Nifty IT29885.90-347.80 -1.15%

  • February 14, 2022 / 04:18 PM IST

    Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities:

    Panic selling in global markets took its toll on domestic benchmark indices as investors fretted over geo-political tension and rising crude oil prices. With mounting concerns over the prospects of a likely hike in US interest rates, foreign funds have been deserting Indian stocks at a brisk pace, which also caused Nifty to slip below the psychological 17,000 mark. 

    Technically, the Nifty has formed a bearish gap down candlestick formation which suggests further weakness from the current levels. 

    The Nifty is now trading near the 200-day SMA level and as long as the index is trading below 17050, there are chances that it could hit 16750 and 16550 levels.

  • February 14, 2022 / 04:15 PM IST

    Rahul Sharma, Co-owner, Equity 99

    Today we witnessed blood bath in Indian markets with broader index down more than 3%. The sell-off was mainly on account on Russia-Ukraine tensions. Almost all major indexes across globe were in red. 

    Investors are advised to keep strict stop loss considering the volatility in the markets. Also buy on dips is suggested but investors should plan their position keeping adequate liquidity.

    For Nifty 50 16745 will act as very strong support. If this level is breached than we might see 16620 levels, post which 16500 will be next strong support zone. On upper side 16900 will act as very strong resistance, if this level is breached than we might see 17070 levels, post which 17200 will be next strong resistance level.

    For Bank Nifty 36600 will act as very strong support level. Once this level is breached than next strong support is around 36400 levels post which 32645 will act as next strong support. On upper side 37070 will be strong resistance level, post which next strong resistance will be at 37300 to 37500 levels.

    Key result tomorrow s CRISIL and sectors in focus tomorrow are banks, consumer durables, IT & real-estate.

  • February 14, 2022 / 04:08 PM IST

    Santosh Meena, Head of Research, Swastika Investmart:

    Indian market tumbled sharply amid geopolitical tension. This geopolitical tension is leading to a sharp surge in crude oil prices and the dollar index which is another negative trigger for emerging markets like India. 

    We are seeing continuous selling by FIIs while DIIs flows may also come down ahead of big LIC IPO. The inflation and rising interest rate environment in the US is still a concern for the market and this geopolitical tension is creating a double whammy situation for the global markets. 

    Technically, Nifty is trading near its 200-DMA of 16800 which is a critical support level and if Nifty manages to hold this level then we can expect a bounceback otherwise further weakness can be expected towards 16450/16000 levels. On the upside, 17100 will act as an immediate hurdle while 17350-17500 is a critical resistance zone. 

    Short-term traders are advised to keep eye on the 16800 level while long-term investors should take the current fall as a buying opportunity because anecdotally any panic due to geopolitical tension creates good buying opportunities. 

    Bank Nifty is also trading near its 200-DMA of 36500; below this, weakness may get extension otherwise a bounceback is expected towards 37500/38000 levels.

    Put call ratio has again come down to 0.78 mark means it is in oversold territory.

  • February 14, 2022 / 04:01 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Increased tension between the US and Russia over Ukraine sent oil prices rising and forced investors to dump risky assets. Risk sentiment was further dampened ahead of the Fed’s emergency meeting which heightened fears of aggressive monetary tightening. 

    On the domestic front, the annual WPI inflation eased marginally to 12.96% in January from 13.56% in December, but still high, amid moderation in the fuel and power prices.

  • February 14, 2022 / 03:44 PM IST

    Rahul Sharma of Equity 99

    Rahul Sharma, co-owner at Equity 99 has given a strong buy for ITC in such a volatile market. ITC is a strong stock to add in such a market with great dividend record. The company has a good dividend-paying track record and has consistently declared strong dividends for the last 5 years. No tax on tobacco and robust results have added the faith to keep adding the stock to one’s portfolio. 

    The company’s board approved an interim dividend of Rs 5.25 per share in their board meeting on February 3. For 2020-21 ITC had approved a final dividend of Rs 5.75 per share along with the financial results. 

    The diversified multi-business conglomerate has always remained an attractive dividend bet for investors. This is with promising long-term growth prospects across multiple business segments.

    During the third quarter (October-December 2021) the company delivered strong performance across all operating segments.

  • February 14, 2022 / 03:33 PM IST

    Market Close: Benchmark indices ended lower for the second consecutive session on February 14 amid global sell-off due to geopolitical tension between Russia and the West over Ukraine.

    At close, the Sensex was down 1,747.08 points or 3.00% at 56,405.84, and the Nifty was down 532 points or 3.06% at 16,842.80. About 574 shares have advanced, 2897 shares declined, and 108 shares are unchanged.

    JSW Steel, HDFC Life, ITC, Tata Steel and Tata Motors were the top Nifty losers, while the only gainer was TCS.

    All the sectoral indices ended in the red with auto, bank, oil & gas, PSU Bank, pharma, FMCG, metal, realty and capital goods indices shed 2-6 percent. BSE Midcap and Smallcap indices lost 3-4 percent.

  • February 14, 2022 / 03:28 PM IST

    D.R.E Reddy, CEO and Managing Partner, CRCL LLP:

    The WPI inflation data for the month of January eases at 12.96% even though the inflation in food spiked to 10.33% in January 2022 from 9.56% in December 2021. 

    The vegetable price rise rate jumped to 38.45% against 31.56% in the previous month. It is also understood that the growing rate of inflation is primarily due to the rise in prices of mineral oils, crude petroleum, natural gas etc as compared to the corresponding month of the previous year. 

    It can be expected that wholesale inflation is to weaken as we move ahead considering the sentiments of careful optimism. The recent MPC announcement chose to maintain the repo rate at 4 percent for the 10th time in a row was purely to support growth as well as manage the inflationary pressures. Moving forward, as the crude prices soften in the summer season and supply issues get resolved will help ease WPI inflation in the next few months.

  • February 14, 2022 / 03:26 PM IST

    Oil steady as Ukraine-Russia tensions loom

    Oil prices were steady on Monday after hitting their highest in more than seven years on fears that a possible invasion of Ukraine by Russia could trigger U.S. and European sanctions that would disrupt exports from one of the world's top oil producers.

    Brent crude was down 12 cents, or 0.1%, at $94.32 a barrel by 0844 GMT, after earlier hitting a peak of $96.16, the highest since October 2014.

    U.S. West Texas Intermediate (WTI) crude rose 1 cent, or less than 0.1%, to $93.11 a barrel, hovering near a session-high of $94.94, the loftiest since September 2014.

  • February 14, 2022 / 03:23 PM IST

    Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers:

    Indian markets opened in red tracking global cues as investors monitor heightened geopolitical risks in eastern Europe amid Ukraine crisis. 

    During the afternoon session markets further fell as the geopolitical breakdown in eastern Europe also had a bearing on oil prices which is seen further adding to the already high inflation globally and has potential to jeopardize economic recovery.

  • February 14, 2022 / 03:21 PM IST

    Glenmark arm enters into agreement with Astrazeneca

    Glenmark Pharmaceuticals today announced that its subsidiary Glenmark Pharmaceuticals Colombia S.A.S. and Astrazeneca Colombia S.A.S. have entered into an exclusive licensing agreement for the commercialization of Astrazeneca’s drug Pulmicort Respules, company said in its release.

    Under the terms of the agreement, Astrazeneca remains the holder of the registration for Pulmicort Respules and will be responsible
    for manufacturing and supplying the drug. Glenmark will be responsible for commercialization of Pulmicort Respules in the Colombian market, it added.

    Glenmark Pharma was quoting at Rs 480.05, down Rs 9.55, or 1.95 percent on the BSE.

  • February 14, 2022 / 03:18 PM IST

    US Futures has extended losses with Dow Futures now down more than 200 points

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