The benchmark indices ended lower on January 2 with Nifty settling the day around 21,650 amid selling across the sectors barring pharma and metal names.
At the day's close on December 2, the Sensex was down 379.46 points or 0.53 percent at 71,892.48, and the Nifty was down 76.10 points or 0.35 percent at 21,665.80.
After a negative start, the market extended the losses as the day progressed, however, buying at lower levels helped to trim some losses.
Stocks and sectors
Top losers on the Nifty were Eicher Motors, M&M, UltraTech Cement, L&T and Kotak Mahindra Bank, while gainers were Coal India, Adani Ports, Sun Pharma, Divis Labs and Cipla.
Among sectors, the pharma index was up 2.5 percent, while auto, realty, capital goods, bank and Information Technology were down by 1 percent each.
BSE Midcap and Smallcap indices ended on a flat note.
A long build-up was seen in Aditya Birla Fashion & Retail, Lupin and Glenmark Pharma, while a short build-up was seen in Vodafone Idea, Eicher Motors and Federal Bank.
Among individual stocks, a volume spike of more than 600 percent was seen in Aditya Birla Fashion & Retail, Glenmark Pharma and Lupin.
VST, Arihant Super, Bhansali Engineering, GlaxoSmithKline Pharmaceuticals, Godrej Industries, GSFC, Gujarat State Petronet, JBM Auto, Lemon Tree, Lupin, Mankind Pharma, Satin Credit, Sigachi Industries, Subros and Sun Pharma Advanced among others, touched their 52-week high on the BSE. Click here for the full list
Outlook for January 3
Rupak De, Senior Technical Analyst at LKP Securities:
A bearish candle has emerged on the daily Nifty chart, indicating a potential bearish trend in the near future. Sentiment is expected to stay bearish as long as it remains below 21750. Any upward movement toward 21750 could encounter selling pressure. However, a clear breakout above 21750 could shift sentiment in favor of the bulls. Support is established at 21500 on the lower end.
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