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November 17, 2021 / 04:58 PM IST

Closing Bell: Nifty ends below 17,900, Sensex falls 314 points; realty, oil & gas, pharma drag

The realty, oil & gas, pharma indices lost 1 percent each, while selling was also seen in the metal, capital goods, and banking names. The BSE midcap index was down 0.2 percent, while the smallcap index ended on flat note.

  • IndexPricesChangeChange%
    Sensex62,834.600.00 +0.00%
    Nifty 5018,701.050.00 +0.00%
    Nifty Bank43,332.950.00 +0.00%
    Nifty 50 18,701.05 0.00 (0.00%)
    Tue, Dec 06, 2022
    Biggest GainerPricesChangeChange%
    Hindalco481.2020.10 +4.36%
    Biggest LoserPricesChangeChange%
    Apollo Hospital4,778.35-93.10 -1.91%
    Best SectorPricesChangeChange%
    Nifty Metal6819.75125.25 +1.87%
    Worst SectorPricesChangeChange%
    Nifty IT30891.50-160.60 -0.52%


  • November 17, 2021 / 04:19 PM IST

    Sachin Gupta, AVP, Research at Choice Broking:

    After a gap-down opening, the benchmark index continued the downside move throughout the day and settled at 17898.65 levels with a loss of 0.5%, while Bank Nifty slipped more than 200 points to close at 38041.60 levels. 

    Technically, the index has formed a bearish candle on the daily time frame and also shifted below the Middle Bollinger Band formation, which shows weakness in the counter. 

    On an hourly chart, the index has given a trendline breakdown, which points out some corrections. Furthermore, the index has given closing below 21 DMA as well as the stochastic indicator is trading negative crossover. At present, the index has support at 17750 levels, while resistance is at 18100 levels.

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  • November 17, 2021 / 04:12 PM IST

    Mohit Nigam, Head - PMS, Hem Securities:

    Benchmark indices ended on a negative note for the second consecutive day with Nifty falling -0.56% and Sensex falling -0.52%. Pharma and Realty stocks face pressure today while good buying was seen in Auto stocks. 

    Primary market remained in action as Go Fashion IPO started today and received bids of 1.26 crore equity shares against IPO size of 80.79 lakh equity shares. Mid cap index was flat today while small cap index ended with 0.4% gain. 

    On the technical front, 18,000 level can act as immediate resistance and if Nifty is able to sustain above this level for some coming sessions then we can witness a good up move.

  • November 17, 2021 / 04:06 PM IST

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

    Markets witnessed selling pressure at higher levels as investors seem to be trimming their holdings in stocks that had risen sharply in recent upsurge. The Nifty is still holding the lower top formation, indicating continuation of the weak wave in the near future. 
    While the intraday texture is weak, for bulls the 50-day SMA and 17790 could act as a key support level. 

    For day traders, 18000 could be the immediate resistance level. Below the same the correction wave is likely to continue up to 17850-17790 levels. Contra traders can take a bet near 17790 with strict support stop loss at 17750.

  • November 17, 2021 / 04:04 PM IST

    Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas:

    The Nifty witnessed sustained selling pressure for yet another session. An intraday bounce faced resistance near the key hourly moving averages & the 20 DMA. From there the index nosedived towards the end of the session. As a result, Nifty has entered the near term support zone of 17900-17800. 

    The hourly chart shows that the index has reached lower end of the rising channel with a minor breach on the downside. 

    Going ahead, the junction of 40 DEMA & the swing low on the daily chart, which is near 17800 will be the key support to watch out for. There is scope for a bounce back as long as the level of 17800 holds on a closing basis. On the higher side, near term hurdle is paced at 18000-18050.

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  • November 17, 2021 / 04:01 PM IST

    Ajit Mishra, VP - Research, Religare Broking:

    Markets traded volatile in a range and lost over half a percent, in continuation to a prevailing consolidation phase. The first half was dull as the benchmark hovered in a narrow range however profit taking in the final hours pushed the index in red. Consequently, Nifty closed around the day’s low to close at 17,898 levels. 

    Amongst the sectors, oil & gas, banking and realty were the top losers wherein auto continued to rally for the second straight day. A mixed trend was witnessed on the broader front wherein midcap ended lower and smallcap closed almost on a flat note.
     
    Feeble global cues are weighing on sentiment and there’s nothing much to cheer on the domestic front as well. Indications are in the favour of further slide but the pace would be gradual. 

    Nifty has next support around 17,800-17,700 zone. In case of a rebound, 18,000 would act as a hurdle. Participants should align their positions accordingly.

  • November 17, 2021 / 03:55 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services:

    Robust US retail sales data failed to inspire global markets as domestic indices were seen trading with a negative bias to close deep in the red. UK’s rising annual inflation rate reported at 4.2% in October from 3.1% a month ago, has begun to sour investor moods, adding to the existing inflationary worries. 

    US October Retail sales data rose 1.7% MoM, beating estimates. The surge in fresh covid cases is keeping global investors on the edge fanning fears of an economic slowdown. On the domestic front, the auto sector was in focus as reports suggested relief in chip & semi-conductor shortages.

  • November 17, 2021 / 03:47 PM IST

    Emkay Global Financial Services:

    There are no fresh triggers in the fx market and the USDINR spot is stuck with in a tight range of 74.20-74.55. It is a truncated week, with inflation playing a major hindrance to the risk appetite.

    So the only focus remains on whether Fed members’ express their worry over inflation, supporting the uptrend in DXY. But overall we expect the spot to continue trading in between 74-74.65.

  • November 17, 2021 / 03:41 PM IST

    Rohit Singre, Senior Technical Analyst at LKP Securities:

    One more round of selling witnessed in today’s session and the index closed a day at 17900 with loss of more than half percent forming a bearish candle for the third consecutive day. 

    The index managed to breach its rising trend line support of 17900 zone which hints we may see more pressure if the index continued to trade below 17900 zone towards 17800-17700 zone which are next supports for Nifty and resistance is coming near 17950-18000 zone and above 18k mark only we may see good strength.

  • November 17, 2021 / 03:35 PM IST

    Market Close: Benchmark indices ended on negative note for the second consecutive session on November 17 amid selling seen in the realty, oil & gas, pharma names.

    At close, the Sensex was down 314.04 points or 0.52% at 60,008.33, and the Nifty was down 100.50 points or 0.56% at 17,898.70. About 1382 shares have advanced, 1758 shares declined, and 95 shares are unchanged.

    UPL, Reliance Industries, Axis Bank, Britannia Industries and IOC were among the major Nifty losers. Gainers included SBI Life Insurance, Asian Paints, Maruti Suzuki, Tata Motors and Power Grid.

    The realty, oil & gas, pharma indices lost 1 percent each, while selling was also seen in the metal, capital goods, and banking names. The BSE midcap index was down 0.2 percent, while the smallcap index ended on flat note.

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  • November 17, 2021 / 03:26 PM IST

    SCI board approves demerger of 'Non-Core Assets'

    The board of directors of Shipping Corporation of India Land and Assets Limited in its meeting held on November 16, 2021, has considered and approved the Scheme of Arrangement for Demerger of 'Non-Core Assets' between The Shipping Corporation of India and Shipping Corporation of India Land and Assets.

    The company is taking necessary actions to obtain all necessary approvals from the competent authority/ies to bring this scheme into effect.

    Shipping Corporation of India was quoting at Rs 129.35, up Rs 0.30, or 0.23 percent.

  • November 17, 2021 / 03:22 PM IST

    JSW Steel selects in the S&P Dow Jones Sustainability Index

    JSW Steel announced today that it has been selected in the S&P Dow Jones Sustainability Index (DJSI) for the Emerging Markets for 2021. 

    JSW Steel is one of the 15 companies from India and one amongst only three steel companies from Emerging Markets that have made it to the DJSI EM Index which comprises 108 companies globally.

    JSW Steel was quoting at Rs 662.40, down Rs 2.25, or 0.34 percent.