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Live: HDFC bank ADR slumps post Q3 earnings – Buy, sell or hold? Asian Paints, LTIMindtree in focus

Indian equity market has retreated on profit taking and weak global cues. Experts expect consolidation and normal profit booking to continue in the index with immediate support at 21,900-21,800 and crucial support at 21,500 mark, given the recent rally towards a new high, whereas in case of rebound, the immediate hurdle is expected to be at 22,200 levels. On January 16, the benchmark indices snapped five-day gains. The BSE Sensex was down 199 points at 73,129, while the Nifty 50 fell 65 points to 22,032 and formed bearish candlestick pattern on the daily charts. This morning global cues are subdued with weak cues from Wall Street as comments from US Federal Reserve dashes hopes of early rate cut. The Gift Nifty is hinting at a start below the 22,000 mark. Nifty Bank will be in focus as HDFC Bank may weigh following a 7% slump in ADR overnight. Catch Nandita Khemka in conversation with Kaitav Shah, Lead BFSI Analyst, Anand Rathi Institutional Equities and Aamar Deo Singh, Senior Vice President, Angelone.

first published: Jan 17, 2024 08:41 am