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October 21, 2021 / 04:19 PM IST

Closing Bell: Nifty ends below 18,200, Sensex falls 336 pts dragged by IT, metal, realty stocks

Among sectors, PSU Bank, auto, oil & gas and power indices ended in the green, while metal, IT, energy and FMCG indices ended lower.

  • IndexPricesChangeChange%
    Sensex57,485.75-210.71 -0.37%
    Nifty 5017,134.30-62.40 -0.36%
    Nifty Bank36,250.4053.25 +0.15%
    Nifty 50 17,134.30 -62.40 (-0.36%)
    Mon, Dec 06, 2021
    Biggest GainerPricesChangeChange%
    JSW Steel656.3011.75 +1.82%
    Biggest LoserPricesChangeChange%
    Coal India150.65-9.10 -5.70%
    Best SectorPricesChangeChange%
    Nifty Metal5443.4051.00 +0.95%
    Worst SectorPricesChangeChange%
    Nifty IT35340.50-507.55 -1.42%

  • October 21, 2021 / 04:34 PM IST

    Anindya Banerjee, DVP, Currency Derivatives & Interest Rate Derivatives at Kotak Securities

    USDINR spot closed flat near 74.86 levels, due to push and pull of a weak US Dollar Index and falling Indian stocks. With oil prices holding at higher levels, the pace of decline in USDINR can slow. 

    Bias continues to downward as long as the pair holds below 75.10 levels on spot. With strength in emerging market currencies, rupee can appreciate towards 74.50/60 levels in the coming days.

  • October 21, 2021 / 04:30 PM IST

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

    Weak global cues triggered selling pressure for the third day in a row, while for one more time bears took the aggressive stance near the 18350 resistance level. Technically, after a short term price correction, the Nifty took support near the 18050 level and reversed sharply. 

    The index has formed a bearish candle on daily charts but at the same time it took support near the important retracement level of 18030. We are of the view that the intraday texture of the market is weak and is likely to continue in the near future. 

    However, 18150 would be the immediate support level for the day traders. As long as the index is trading above the same, a pull-back rally could be seen up to 18250-18300 levels. On the flip side, dismissal of 18150 may intensify further weakness up to 18030-18000.

  • October 21, 2021 / 04:04 PM IST

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

    The Nifty opened gap up only to face fresh round of selling near the 20 hour moving average. On the way down, it breached the level of 18200. However it received support as it approached the crucial 18000 mark. 

    The daily chart shows that the index tested a rising trendline on the downside from where it bounced to some extent towards the end of the session. Thus the Nifty is trading near its short term supports, which can either lead to a minor degree bounce or a sideways action. 

    The downside looks protected at 18000 from short term perspective. On the other hand, 18400-18500 will be the hurdle zone for a minor degree bounce. Overall, the Nifty is expected to continue with the short term consolidation.

  • October 21, 2021 / 03:58 PM IST

    Mohit Nigam, Head - PMS, Hem Securities:

    Indian Benchmark Indices fell for the third consecutive session but later recovered from day’s low. Strong selling is seen in IT, Realty and Metal stocks while buying is witnessed in banking stocks. 

    We believe the profit booking which was witnessed today is healthy for the market and any significant dip is a good opportunity to accumulate quality stocks. Immediate support for Nifty 50 is 18,000.

  • October 21, 2021 / 03:45 PM IST

    Rohit Singre, Senior Technical Analyst at LKP Securities:

    Index opened a day with a good gap up but unable to hold highs for long & witnessed profit booking with given close at 18178 with loss of half percent after showing a volatile session.

    In last one hour index has witnessed strong pull back from good support zone of 18100 which is going to act again good support area for coming sessions followed by 18k mark. 

    Also longs can be hold until Nifty is managing above said levels and on the higher side immediate resistance is formed near 18280-18350 zone & fresh move possible only above 18400 zone.

  • October 21, 2021 / 03:39 PM IST

    Vinod Nair, Head of Research at Geojit Financial Services: 

    Sell-off continued due to weak Q2 results, bearish global market and profit booking in IT, metal and realty stocks. However, the banking index, especially PSBs moved with confidence on the expectation of good quarterly earnings. High volatility forced foreign and domestic institutional investors to remain net sellers.

  • October 21, 2021 / 03:34 PM IST

    Market Close: Benchmark indices witnessed selling on the third straight session on October 21 mostly dragged by IT and metal names.

    At Close, the Sensex was down 336.46 points or 0.55% at 60,923.50, and the Nifty was down 88.50 points or 0.48% at 18,178.10. About 1580 shares have advanced, 1627 shares declined, and 130 shares are unchanged.

    Asian Paints, Hindalco Industries, Reliance Industries, Infosys and Dr Reddys Labs were among the major Nifty losers. Gainers included Kotak Mahindra Bank, Tata Motors, Grasim Industries, BPCL and HDFC.

    Among sectors, PSU Bank, auto, oil & gas and power indices ended in the green, while metal, IT, energy and FMCG indices ended lower.

    BSE midcap and smallcap ended in the negative territory.

  • October 21, 2021 / 03:29 PM IST

    Sterlite Technologies Q2 earnings:

    Sterlite Technologies has reported 8.6 percent fall in its Q2 consolidated net profit at Rs 105.7 crore versus Rs 115.7 crore and revenue was up 15.1% at Rs 1,507.5 crore versus Rs 1,309.2 crore, QoQ.

    Sterlite Technologies was quoting at Rs 271.25, down Rs 11.75, or 4.15 percent.

  • October 21, 2021 / 03:25 PM IST

    Borosil Renewables Q2 earnings

    Borosil Renewables has posted 142 percent jump in its Q2 net profit at Rs 34.1 crore versus Rs 14.1 crore and revenue was up 40.7% at Rs 160.5 crore versus Rs 114.1 crore, YoY.

    Borosil Renewables was quoting at Rs 446.80, down Rs 23.50, or 5.00 percent on the BSE.

  • October 21, 2021 / 03:23 PM IST

    CG Power Q2 earnings

    The company has posted 72% jump in its Q2 net profit at Rs 188.1 crore versus Rs 109.7 crore and revenue was at Rs 1,453.8 crore against Rs 663.9 crore, YoY.

    CG Power and Industrial Solutions touched a 52-week high of Rs 141.80 and was quoting at Rs 137, up Rs 0.05, or 0.04 percent.

  • October 21, 2021 / 03:18 PM IST

    UPL to acquire 80% stake in Indonesian company

    UPL Global Limited, a step down subsidiary of UPL’s subsidiary viz. UPL Corporation Limited has entered into definitive agreement for acquisition of 80% stake in equity share capital of PT Excel Meg Indo – Indonesia, company said in its press release.

    UPL was quoting at Rs 714.05, down Rs 2.15, or 0.30 percent.

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