Stock Market Close: Sensex slips 142 pts, Nifty ends at 23,907; bank, financial stocks underperform – Delhi News Daily

Stock Market LIVE Updates: Nifty started on a positive note but remained range-bound during the initial hour of trade. The index later witnessed a breakout from the consolidation zone and surged to an intraday high of 23,983. However, the momentum could not sustain at higher levels, as profit booking emerged, leading the index to pare some of its gains and eventually settle at 23,907.

On the daily chart, Nifty formed a small-bodied candle with a noticeable upper wick, reflecting profit booking at higher levels. A similar upper wick was seen in the previous session as well, highlighting the index’s inability to sustain above higher levels, with the 50-day EMA continuing to act as a stiff resistance zone.

Going ahead, the immediate resistance for Nifty is placed in the 24030-24050 zone. Any sustainable move above this zone could result in Nifty extending its pullback towards 24200, followed by 24350 in the short term. On the downside, the immediate support for Nifty is placed in the 23720-23700 zone.

View by: Sudeep Shah, head – technical and derivatives research at SBI Securities

Stock Market LIVE Updates: The Nifty Midcap 100 index mirrored the movement seen in the benchmark indices. Despite this, the Midcap index touched a fresh all-time high and continues to outperform the Nifty index. The index closed with a gain of 0.4 per cent. Meanwhile, the Nifty Smallcap 10 index also closed in the green with a gain of 0.15 per cent.

Stock Market LIVE Updates: On the sectoral front, Nifty Media ended the day as the top sectoral gainer followed by Nifty Energy. On the other hand, Nifty Capital Market and Nifty Financial Services were the top two sectors to end the day in red.

Stock Market LIVE Updates: Among the Sensex constituents, PowerGrid, Eternal, and NTPC gainers more than 2 per cent each. Tata Steel, IndiGo, Maruti, Titan and Asian Paints were other major gainers. 

Stock Market LIVE Updates: The 50-share NSE Nifty also closed in the volatile session in the red. The index lost 6.55 points, or 0.03 per cent, to settle at 23,907.15.

 

Stock Market LIVE Updates: Benchmark index Sensex drifted lower after rising in early trade on Wednesday amid volatile trends in the equity market as investors remained cautious due to geopolitical uncertainties and fresh foreign fund outflows. The index slipped 141.90 points, or 0.19 per cent, to end at 75,867.80.