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January 18, 2022 / 04:18 PM IST

Closing Bell: Sensex falls 554 pts, Nifty below 18,200; auto, IT, metal, pharma drag

Stock Market LIVE Updates: All the sectoral indices are trading in the red with auto, IT, metal, pharma, FMCG down 1-2 percent. BSE midcap and smallcap indices down 1-2 percent.

  • IndexPricesChangeChange%
    Sensex57,426.921,016.96 +1.80%
    Nifty 5017,094.35276.25 +1.64%
    Nifty Bank38,631.95984.20 +2.61%
    Nifty 50 17,094.35 276.25 (1.64%)
    Fri, Sep 30, 2022
    Biggest GainerPricesChangeChange%
    Hindalco390.5519.35 +5.21%
    Biggest LoserPricesChangeChange%
    Asian Paints3,342.45-42.35 -1.25%
    Best SectorPricesChangeChange%
    Nifty PSU Bank2995.0087.65 +3.01%
    Worst SectorPricesChangeChange%
    Nifty FMCG44405.6549.40 +0.11%


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  • January 18, 2022 / 04:20 PM IST

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

    Markets took a break from the recent upsurge as bears took control after weak Asian and European cues prompted investors to book profit. As a result, the Nifty has formed a long bearish candle which suggests further weakness from the current levels. It has also formed a lower top formation, indicating continuation of weakness in the near future. 

    We are of the view that the intraday formation is still weak and now 18225-18250 would act as an important hurdle for the day traders and below the same the correction wave could continue up to 18050-18020 levels. Contra traders can take long bets near 18020 with a strict stop loss at 17980.

  • January 18, 2022 / 04:19 PM IST

    Sugandha Sachdeva, VP- Commodity & Currency Research, Religare Broking:

    The Indian rupee has come under pressure amid a rebound in the greenback from two month lows and a relentless upside in Crude oil prices, wherein they have surged by close to 13 percent since the beginning of the year. Another headwind for the domestic currency is the rising trade deficit, as it has widened by 37.92 percent y-o-y in December, 2021.

    More so, the threat of aggressive rate increases by the US Fed looks to further weigh on the Indian rupee, and we envisage the local unit to drift lower towards 75.20 odd levels in coming days.

  • January 18, 2022 / 04:11 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets shed nearly a percent in a volatile trading session, in continuation to the prevailing consolidation phase. The benchmark oscillated in a range before finally settling in the red. Mixed global cues were weighing on the sentiment which triggered profit taking across the board. Among the sectors, most indices ended lower and the broader indices also closed in the red.
     
    We may see a further decline in the Nifty index and the 17,950-18,050 zone would act as a support. Volatility usually remains high during the corrective phase and earnings season is further adding to the choppiness. 

    Keeping in mind the scenario, it’s prudent to maintain a few shorts also. The focus should be on earnings and global markets for cues. 

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  • January 18, 2022 / 04:05 PM IST

    Sachin Gupta, AVP-Research at Choice Broking:

    On a Tuesday trading session, the benchmark index witnessed a profit booking after a continued upside move and Nifty50 has retreated almost 1% from the day high to close at 18113.05 while Bank Nifty has settled at 38210.30 levels. 

    Technically, the Nifty index has formed a bearish engulfing pattern, which indicates some correction in the index. A momentum indicator RSI & Stochastic has reversed from overbought territory, which suggests bearish sentiments for the coming day.

    On the options front, the maximum call OI is at 18300 strike price while maximum put option OI is at 17000 strike price followed by 18000. However, overall market structure is bullish with positive bias, so every dip would be a buying opportunity for the long term players. 

    At present, the index has support at 18000 levels while resistance comes at 18300 levels, crossing above the same can show 18500-18600 levels. On the other hand, Bank Nifty has support at 37800 levels while resistance at 38600 levels.

  • January 18, 2022 / 04:00 PM IST

    Rupak De, Senior Technical Analyst at LKP Securities:

    Nifty started the day on a positive note but failed to carry the momentum throughout the session. On the higher end price found resistance at 18350 which resulted in a sharp fall towards 18080. 

    On the daily chart Nifty has formed a bearish engulfing pattern. A bearish harmonic pattern is also visible on the daily chart of Nifty. Momentum oscillator RSI (14) has entered in a bearish crossover. On the higher end resistance is visible at 18350-18400; whereas on the lower end support is visible at 18000/17850.

  • January 18, 2022 / 03:55 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Following a weak lead from the global markets, domestic indices witnessed a highly volatile trade ahead of the press conference by the Finance Minister today. Surge in oil prices and FIIs turning net sellers also added volatility in the domestic market. 

    Globally, markets witnessed selling pressure following a surge in US treasury yield amid rate hike worries while oil prices rose on supply tension owing to the drone attack on UAE.

  • January 18, 2022 / 03:51 PM IST

    Manish Hathiramani, proprietary index trader and technical analyst, Deen Dayal Investments

    18350 proved to be a stiff resistance and the markets decided to give up some of its gains! Closing below 18000-18100 might spook traders and motivate them to offload positions. 

    Until that does not happen, the market trend is positive and long positions can be accumulated on corrections.

  • January 18, 2022 / 03:35 PM IST

    Market Close: Benchmark indices lower with Nifty below 18200 amid selling seen in the final hour of session on January 18.

    At close, the Sensex was down 554.05 points or 0.90% at 60,754.86, and the Nifty was down 195.10 points or 1.07% at 18,113. About 1007 shares have advanced, 2218 shares declined, and 59 shares are unchanged.

    Tata Consumer Products, Maruti Suzuki, UltraTech Cement, Eicher Motors and Tech Mahindra were the top Nifty losers. Gainers were Axis Bank, HDFC Bank, Dr Reddy’s Labs, ICICI Bank and Kotak Mahindra Bank.

    All the sectoral indices are trading in the red with auto, IT, capital goods, metal, realty, pharma and FMCG down 1-2 percent. BSE midcap and smallcap indices down 1-2 percent.

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  • January 18, 2022 / 03:25 PM IST

    Nifty IT index shed 1 percent dragged by the Coforge, Mindtree, Tech Mahindra

     Nifty IT index shed 1 percent dragged by the Coforge, Mindtree, Tech Mahindra
  • January 18, 2022 / 03:23 PM IST

    Kotak Pre-IPO Opportunities Fund raises Rs 2,000 crore

    Kotak Investment Advisors Limited (KIAL) today announced that it has successfully closed its maiden Kotak Pre-IPO Opportunities Fund, raising Rs 2,000 crore. 

    The Pre-IPO Fund will invest in a range of India focused late-stage new-age businesses with a strong moat of technology.

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