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Live: Nifty below 19,700; will the selloff continue? Bajaj Auto, FMCG stocks in focus

Sensex and Nifty indices are likely to open marginally lower as trends in the GIFT Nifty indicate a negative start for the broader index with a loss of 24 points. On October 18, benchmark indices ended on a weaker note amid selling across the sectors barring except auto and pharma. The Sensex was down 551.07 points or 0.83 percent at 65,877.02, and the Nifty was down 140.40 points or 0.71 percent at 19,671.10. The pivot point calculator indicates that the Nifty may be taking support at 19,666, followed by 19,625 and 19,561. On the higher side, 19,796 can be an immediate resistance, followed by 19,836 and 19,901. Wall Street saw a sharp selloff last night while Asian markets are off to a weak start as US 10-year surges to a fresh 16-year high. This morning among stocks to watch will be Bajaj Auto, IndusInd Bank, Wipro as earnings came post market hours yesterday. Also watch out for big FMCG earnings today as HUL, ITC and Nestle report their quarterly numbers today. We will also discuss what to expect from the cement earnings. Catch Nandita Khemka in conversation with Rohan Shah - Technical Analyst, Religare Broking and Ronald Siyoni, Associate Vice President at Sharekhan by BNP Paribas.

first published: Oct 19, 2023 08:29 am