In the volatile session on September 18, the Indian benchmark indices ended lower, with the Sensex falling 241.79 points or 0.36 percent at 67,596.84, and the Nifty ended at 20,133.30, down 59 points or 0.29 percent.
On the back of weak global cues, the market started the day gap-down, remained in negative terrain throughout the session and ended near the day's low. However, buying in auto, power and PSU banks limits the losses.
The market will remain shut on September 19 on account of Ganesh Chaturthi.
Top losers on the Nifty included Hindalco Industries, Jio Financial, HDFC Bank, Bharti Airtel and Adani Ports, while gainers were Titan Company, M&M, BPCL, HDFC Life and Power Grid Corporation.
On the sectoral front, the PSU Bank index gained 3.4 percent, power, auto and FMCG indices were up 0.5-.8 percent, realty and metal indices shed 1 percent each, while bank, IT, pharma and pharma were down 0.5 percent each.
The BSE midcap index fell 0.25 percent and Smallcap index was down 0.5 percent.
A long build-up was seen in Punjab National Bank, PFC and Bank of Baroda, while a short build-up was seen in Vodafone Idea, Gujarat Narmada Valley Fert & Chemicals and Syngene International.
Among individual stocks, a volume spike of more than 300 percent was seen in Delta Corp, SAIL and NALCO.
Index | Prices | Change | Change% |
---|---|---|---|
Sensex | 83,952.19 | 484.53 | +0.58% |
Nifty 50 | 25,709.85 | 124.55 | +0.49% |
Nifty Bank | 57,713.35 | 290.80 | +0.51% |
Biggest Gainer | Prices | Change | Change% |
---|---|---|---|
Asian Paints | 2,507.80 | 98.10 | +4.07% |
Biggest Loser | Prices | Change | Change% |
---|---|---|---|
Wipro | 240.90 | -12.91 | -5.09% |
Best Sector | Prices | Change | Change% |
---|---|---|---|
Nifty FMCG | 56616.40 | 762.50 | +1.37% |
Worst Sector | Prices | Change | Change% |
---|---|---|---|
Nifty IT | 34950.70 | -580.40 | -1.63% |
More than 100 stocks touched their 52-week high on the BSE, including D B Realty, Tata Consultancy Services, Jyoti, Tech Mahindra, SBI Life Insurance Company, Bajaj Auto, UCO Bank, Welspun Corp, Zomato, Central Bank Of India, Tata Steel, Mahindra & Mahindra, Ipca Laboratories, TVS Motor Company. Click to View Full List
Outlook for September 20
Deepak Jasani, Head of Retail Research, HDFC Securities:
Nifty ended lower on September 18 in a volatile session. At close, Nifty was down 0.35% or 69.8 points at 20122.55. Volumes on the NSE continued to be on the lower side. Smallcap index fell more than the Nifty even as the advance decline ratio fell sharply to 0.65:1.
Global equities mostly fell on Monday as growth concerns tested investors' nerve ahead of a week packed with central bank meetings in five countries out of those overseeing the 10 most heavily traded currencies. Traders took risk off the table ahead of these policy decisions that will reveal how major central banks view progress in the fight against inflation.
Nifty formed a small range bound candle, but over the last three days a bearish tristar doji seems to have been formed. If this is true, the Nifty may have formed a short term top at 20222 that may result in a small decline towards 19940. A move below 19865 could lead to acceleration in decline for the Nifty.
Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities:
The Nifty index has been consolidating within a broad range, with notable call writing activity observed at higher levels. This suggests that market participants are cautious and have been selling call options to hedge against potential downward movements.
The sideways trend in the index is expected to persist in the upcoming trading sessions. This is attributed to the anticipation of the outcome of the US Federal Reserve (US Fed) meeting, which is a significant event that can impact global financial markets.
The index has support at the 20100 level and resistance at 20200. A break on either side of this range is likely to lead to trending moves, with potential implications for market direction.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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