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After several days of impressive gains, Indian stock indices saw some correction on September 27, 2024, as investors booked profits following a prolonged rally. The <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword>, which briefly touched the 86,000 mark during the trading session, closed the day slightly lower at 85,571.85 points, down by 264.27 points or 0.31%. Similarly, the <keyword id="19896381" type="General" weightage="100" keywordseo="nifty" source="keywords">Nifty</keyword> index, which reached a lifetime high of 26,277.35, eventually closed in the red at 26,175.15 points, down by 40.90 points or 0.16%. Market participants were primarily focused on locking in gains after the indices reached record highs. Sectoral performance saw a divergence, with banking, financial services, media, and real estate stocks facing pressure. <keyword id="19969359" type="General" weightage="20" keywordseo="vinod-nair" source="keywords">Vinod Nair</keyword>, Head of Research at <keyword id="19933343" type="General" weightage="20" keywordseo="geojit-financial-services" source="keywords">Geojit Financial Services</keyword>, pointed out that after the recent surge, "the benchmark indices experienced a sideways movement today as investors engaged in profit booking at elevated levels." He further added that market participants are eagerly awaiting the second-quarter earnings report, which could provide clarity on future earnings potential. <h2>Global factors and FPI activity</h2>One of the key drivers behind the <keyword id="6357440" type="General" weightage="20" keywordseo="stock-market" source="Orion">stock market</keyword> rally in recent weeks has been the US Federal Reserve’s decision to loosen its monetary policy, with a significant 50-basis-point cut in interest rates. This move has resulted in a flow of capital from the US to markets like India, where policy rates are higher, thus providing attractive returns. The looser monetary policy in the US has encouraged foreign portfolio investors (FPIs) to continue investing in Indian equities. FPIs have remained net buyers in India for the fourth consecutive month, further supporting the stock indices. As per data from the <keyword id="20070086" type="General" weightage="20" keywordseo="national-securities-depository-limited" source="keywords">National Securities Depository Limited</keyword> (NSDL), FPIs have purchased Indian stocks worth ₹48,822 crore in September alone, a trend that has bolstered market confidence. The strong FPI inflows reflect optimism about India's economic prospects and its equity market returns. <h2>Sectoral performance and outlook</h2>Despite the overall market decline, the performance varied across different sectors. Public sector banks, defence, and railway stocks, which had seen significant buying interest earlier, took a backseat as pharma, private banks, and mid-size IT companies began to attract attention due to their appealing valuations. These sectors are now expected to drive the next market phase in the coming quarters, according to Krishna Appala, Senior Research Analyst at Capitalmind Research. The markets traded in a narrow range for most of the day, with little overall movement despite positive global cues. An early rebound in the IT sector briefly boosted the indices, but the gains were short-lived. The broader indices, including the Nifty and Sensex, remained largely flat, echoing the sluggish performance of heavyweight stocks. Ajit Mishra, Senior Vice President of Research at Religare Broking, noted that "sector-wise, pharma and energy posted solid gains, while banking and real estate sectors saw profit booking." Looking ahead, Mishra maintained a bullish outlook on the markets, advising investors to use periods of consolidation or dips to accumulate quality stocks. He added that, in the absence of any significant domestic triggers, global markets will likely set the direction for Indian equities. On the Nifty index, he anticipated strong support around the 25,900-26,000 zone, with an upside target at 26,500. <h2>Technical insights</h2>Hrishikesh <keyword id="23343291" type="General" weightage="20" keywordseo="yedve" source="keywords">Yedve</keyword>, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates Ltd., shared his technical analysis of the <keyword id="20105832" type="General" weightage="20" keywordseo="nifty-and-bank-nifty" source="keywords">Nifty and Bank Nifty</keyword> indices. He observed that while the Nifty started the day on a flat note and registered a new lifetime high, it eventually faced profit booking and closed marginally lower. "Technically, the index on a daily scale has formed a small red candle, but on the weekly scale, it has formed a big green candle," Yedve explained. He added that as long as Nifty holds above the 26,000 level, a "buy on dips" strategy should be followed, with an immediate short-term target of 26,500. On the Bank Nifty front, Yedve pointed out that the index started on a weak note and remained under pressure throughout the day, closing at 53,834. He highlighted the formation of a bearish Marubozo candle on the daily chart, which signals potential short-term weakness. However, on the weekly scale, Bank Nifty remains above the breakout point of a rounding bottom pattern, indicating strength. "In the short term, Bank Nifty may witness consolidation or profit taking, but any dip around 53,350-53,400 will offer fresh buying opportunities," Yedve advised. <h2>Market wrap-up and outlook</h2>Reflecting on the week’s performance, <keyword id="23343292" type="General" weightage="20" keywordseo="amol-athawale" source="keywords">Amol Athawale</keyword>, VP-Technical Research at Kotak Securities, noted that the benchmark indices had maintained positive momentum, with the Nifty ending 1.5% higher and the Sensex gaining over 1,030 points. <keyword id="20102108" type="General" weightage="20" keywordseo="metal" source="keywords">Metal</keyword> and auto stocks were the standout performers, with the Metal index rising by 7% and the Auto index by 4.5%. Athawale highlighted the importance of the Nifty and Sensex breaching key resistance levels of 26,000/85,000 last week, which has provided a boost to market sentiment. Technically, Athawale pointed to the formation of a bullish candle on the weekly charts and an uptrend continuation pattern on the daily and intraday charts, signalling a potential continuation of the rally. However, he cautioned that "buying on dips and selling on rallies would be the ideal strategy for short-term traders." He identified 26,100/85,300 as crucial support zones for the Nifty and Sensex, with resistance expected around 26,400-26,500/85,900-86,300. As for Bank Nifty, Athawale described the medium-term outlook as bullish but noted that overbought conditions could lead to range-bound activity in the near term. He suggested that 53,500-53,100 would serve as key support zones, while profit booking could occur near 54,500-54,800. (With inputs from agencies)

Indian markets ease as profit booking follows record-breaking streak

Both indices, <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> saw a bloodbath on Friday, with Sensex dipping around 885.6 points to close at 80,981.95 points, while NSE dipped 1.17% to close at 24,717.70 points on August 2, 2024. <keyword id="20103302" type="General" weightage="20" keywordseo="Divis-Labs" source="keywords" meta.keywordsubtype="org" meta.entityname="Divis Labs" meta.hostid="261" meta.entityid="Divis Labs">Divis Labs</keyword> (up by 1.74%), <keyword id="6357149" type="General" weightage="20" keywordseo="HDFC-Bank" source="Orion">HDFC Bank</keyword> (up by 1.17%), Dr Reddy (up by 0.84%), <keyword id="44642" type="General" weightage="20" keywordseo="Sun-Pharma" source="Orion">Sun Pharma</keyword> (up by 0.80%) and Britannia (up by 0.63%) were amongst the top gainers during the day, while Eicher Motors (down by 5.15%), Tata Motors (down by 4.32%), <keyword id="6912" type="General" weightage="20" keywordseo="Maruti" source="Orion">Maruti</keyword> (down by 4.06%), <keyword id="45609" type="General" weightage="20" keywordseo="JSW-Steel" source="Orion">JSW Steel</keyword> (down by 3.91%) and Hindalco (down by 3.89%) were amongst the leading laggards during the day. Out of the 2,771 stocks traded during the day, 1,059 saw advances, while 1,630 saw declines, while another 82 remained unchanged. 152 stocks hit their 52-week high price and 32 stocks hit their 52-week low price as well. 108 stocks remained in the upper circuit during the day, while 81 stocks remained in the lower circuit, or hit their minimum permissible trading price during a singular trading session. Amidst broad market indices, Nifty next 50 was down by 1.30%, Nifty 100 was down by 1.10%, Nifty 200 dipped by 1.08%, Nifty 500 was down by 1.05% and midcap 50 was down by 1.43%. With the exception of India VIX, which rose 11.4% during the day, all other indices closed the day in red. As for sectoral indices, IT was down by 2.41%, metal was down by 2.70%, PSU banks were down by 1.72%, <keyword id="20304716" type="General" weightage="20" keywordseo="realty" source="keywords">realty</keyword> was down by 3.53% and oil and gas dipped by 1.24% during the day. Only healthcare and pharma indices closed the day in green. <h2>What are the experts saying?</h2>Ajit Mishra – SVP, Research, Religare Broking Ltd noted that today, the markets traded under pressure and lost over a percent due to weak global cues. After a gap-down start, Nifty fluctuated within a range and eventually closed near the day's low. Most sectors mirrored the benchmark's decline, with realty, auto, and metal being the top losers. The broader indices also fell, each losing over half a percent. "Nifty struggled to surpass the hurdle at 25,100, and Friday's close suggests a potential further dip toward the immediate support zone around the 20-day EMA around 24,500 level. Besides earnings, participants are also taking cues from the global front, particularly the US, which has been experiencing significant volatility recently. Given this scenario, it is advisable to limit overnight leveraged positions and opt for hedged trades", he continued. Amol Athawale, VP-Technical Research, Kotak securities explained that today, our markets followed the trend of world equity markets, which closed with a massive drop in the last few days. They were down due to weak economy-related data as well as disappointing quarterly numbers. However, our markets held up relatively better than world markets, which fell by over 1.50%. Weekly, Nifty fell by 0.40%, while Sensex was down by 300 points. "Realty, auto, and IT fell by over 2% weekly, while the Nifty pharma index was up nominally. We saw particular buying interest in new-age companies after Zomato's Q1 numbers. Technically, the market managed to climb to new highs during the week. Nifty and Sensex achieved major milestones by crossing 25000 on the Nifty and 82000 on the Sensex. However, currently, most stocks and indices are close to important resistance levels, and we may see consolidation for a few days or weeks", said Athawale. "On an immediate basis, the market is finding support between 24,600/80,900 and 24,500/80,600 levels. On the other hand, until the market crosses 25,100/82,200, we may see a range-bound movement in the market. The strategy should be to buy selective stocks between 24,600 and 24,500/80,900 and 80,600 levels. A close below 24,500/80,600 may take the market towards 24,250/79,900 or 24,100/79,500 levels. Any bounce towards 24,900-25,000/81,700-82000 levels will be an opportunity to reduce long positions", he continued.

Stock market closing: Sensex, Nifty close the week in red, Sensex tumbles over 800 points

Both <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> registered significant gains before closing for the week. While Sensex inched up about 820 points to close at 79,705.91 points, Nifty closed at 24,355.75, up by 0.99% on August 9th, 2024. <keyword id="20023885" type="General" weightage="20" keywordseo="Eicher-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Eicher Motors" meta.hostid="261" meta.entityid="Eicher Motors">Eicher Motors</keyword> (up by 4.8%), <keyword id="22163816" type="General" weightage="20" keywordseo="Shri-Ram-Finance" source="keywords" meta.keywordsubtype="org" meta.entityname="Shri Ram Finance" meta.hostid="261" meta.entityid="Shri Ram Finance">Shri Ram Finance</keyword> (up by 2.95%), <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> (up by 2.91%), <keyword id="20668233" type="General" weightage="20" keywordseo="Grasim" source="keywords" meta.keywordsubtype="org" meta.entityname="Grasim" meta.hostid="261" meta.entityid="Grasim">Grasim</keyword> (up by 2.63%), and HCL Tech (up by 2.59%) were amongst the top gainers of the day, while HDFC Life (down by 0.37%), Asian Paints (down by 0.19%), Hindustan Unilever (down by 0.15%), Cipla (down by 0.06%) and ITC (down by 0.04%) were amongst the leading laggards. All broad market indices closed the day in green, with Nifty 50, Next 50, 100, 200 and microcap 250 gaining over 1% each, while India VIX dipped by 7.45%. Amongst sectoral indices, auto, IT, media, PSU, realty and oil and gas indices raked in gains of over 1% each to close the week in green. Out of the 2,780 stocks traded during the day, 1,658 stocks saw declines, 1,028 declined while 94 remained unchanged. 122 stocks hit their 52-week high price, while 29 stocks also hit their 52-week low price. 127 stocks managed to stay in the upper circuit today, or the highest permissible trading price during a single trading session, while 44 hit the lower circuit. Amol Athawale, VP-technical Research, <keyword id="19958661" type="General" weightage="20" keywordseo="Kotak-Securities" source="keywords" meta.keywordsubtype="org" meta.entityname="Kotak Securities" meta.hostid="261" meta.entityid="Kotak Securities">Kotak Securities</keyword> notes that during the week, market slipped below 20 day SMA (Simple Moving Average), but in the second half of the week it trimmed some losses and eventually closed at 24,367/79,722. Technically, the larger texture of the market is still in to the weak side. "However, as long as it is trading above 24,200/79,200, the pullback formation is likely to continue up to 20 day SMA or 24,525/80,400. Further upside may also continue which could lift the market till 24,625/80,800. On the other side, dismissal of 24,200/79,200 could accelerate the selling pressure below which it could slip till 24,000/78,700 or 50 day SMA and 23,850/78,200. For Bank Nifty now, 50,000 would be the immediate reference point for the bulls. Above 50,000, it could bounce back up to 50,800 and 50 day SMA or 51,200. On the flip side, below 50,000 uptrend would be vulnerable", he continued. Shrikant Chouhan, Head Equity Research, Kotak Securities explains that the Nifty-50 index and Sensex declined around 1.5% each in the past week, while the mid-cap index lost around 1.3% and small-cap index lost 2% underperforming large-caps. "Market focus has swiftly moved on from the Union Budget, unveiled in the week, to the ongoing QFY25 earnings season and global factors. The market performance was impacted by a confluence of global factors, such as (1) a sharper-than-expected weakening of the US labor markets, (2) a sharp appreciation of USD-JPY, resulting in the unwinding of Yen carry trades globally and (3) increase in geo-political tensions in the Middle East", he said. "Sectoral indices were largely negative a week-on week basis except for Nifty FMCG, pharma and media. Sectoral indices like capital goods, consumer durable, auto, metal, reality, power and oil and gas list between 1 to 3%. While Bank Nifty was also weak falling around 1.5% during the week. Within the Nifty Index, Cipla (+3.1%), Eicher Motors (+2.4%) and JSW Steel (+1.6%) gained the most, while Titan (-4.4%), Hindalco (-4.3%) and Asian Paints (-4.3%) lost the most. Going forward, D-street will focus on the macro trends, inflation and global situation including geo-political concerns", continued Chouhan.

Stock market closing: Sensex inches 800 points up to close at 79,705.91, auto, IT, PSU bank indices rally

<ul><li>Sensex and Nifty closed 364 points and 107 points higher in Friday’s session.</li><li>Real estate stocks were the top gainers in the session with Nifty Realty gaining 3%.</li><li>Experts see the positive momentum continuing, with Q2 earnings taking over next week. </li></ul>Indian benchmark indices closed 0.5% higher on Friday, after receiving a sentimental boost from the central bank. The Reserve Bank of India’s (RBI) rate setting panel decided to keep its key policy rates unchanged in its October meeting. Even as the pause was much expected by the markets, Sensex and Nifty gained 364 points and 107 points respectively. Most Nifty indices closed in the green with the exception of Nifty Media. But the best performers of the session were the usual suspects – real estate stocks. Nifty Realty rose by 3%, with eight of its constituents closing in the green. <keyword id="6362997" type="General" weightage="20" keywordseo="dlf" source="Orion">DLF</keyword>, <keyword id="19040981" type="General" weightage="20" keywordseo="godrej-properties-and-lodha-developers" source="Orion">Godrej Properties and Lodha Developers</keyword> gained 4% during the session. “Realty shares hogged the limelight after taking the hammering in recent trades amid hopes that no change in interest rates may boost home sales, especially during the festive season,” said Amol Athawale, VP of technical research at Kotak Securities. The Asian market performance too added to the euphoria in the markets. US equities however were weighed down this week as the 10-year US Treasury yield hit a 16-year high this week. Experts also believe that Nifty could hold on to these levels going forward and will be guided by the earnings season which starts next week. Positive sentiment to continue Nifty took support near 19,350 and bounced back sharply in the last two trading sessions. Nifty recouped all of the losses seen earlier this week on the back of firm global cues. Sentiments got a lift after US Treasury yields retreated and as oil prices plummeted, said Prashanth Tapse, Senior VP (Research), Mehta Equities. “Currently, the index is trading near the 50-day SMA (Simple Moving Average), and on weekly charts it has formed a Hammer kind of formation which is largely positive. As long as the index is trading above the 50-day SMA or 19575 level the positive sentiment is likely to continue,” added Athawale. The Nifty Bank index fell by 0.5% this week due to sell-offs in banking stocks. It however gained during Friday’s session. “Overall, sentiment is expected to stay positive as long as it maintains above the critical support level of 19,500, as put writers are likely to offer support at this level,” said Rupak De, senior technical analyst at LKP Securities. <keyword id="85462" type="General" weightage="20" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword>, <keyword id="111876" type="General" weightage="20" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword>, <keyword id="6359357" type="General" weightage="20" keywordseo="titan" source="Orion">Titan</keyword>, <keyword id="46717" type="General" weightage="20" keywordseo="indusind-bank" source="Orion">IndusInd Bank</keyword> and <keyword id="8836175" type="General" weightage="20" keywordseo="tata-consumer" source="Orion">Tata Consumer</keyword> were the top gainers in the Nifty50 pack. Hindustan Unilever, Coal India, ONGC, Asian Paints and Bharti Airtel were top losers.

Stock markets close on a high; real estate stocks shine

<ul><li><keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> snapped their 8-day winning streak due to mixed global cues, with the autos and financial services indices declining the most.</li><li>While Sensex posted a 0.66% decline to close at 62,869, Nifty50 fell 0.62% to close at 18,696.</li><li>In the Sensex pack, Mahindra &amp; Mahindra, Hindustan Unilever, Maruti, Nestle, HDFC, Asian Paints, Bajaj Finance and Power Grid were among the major laggards.</li></ul>India’s benchmark indices Sensex and Nifty50 snapped their eight-day winning streak on Friday, and took a breather amid weak global cues. Auto stocks declined the most, led by Eicher Motors and Mahindra &amp; Mahindra. While Sensex posted a 0.66% decline to close at 62,869, Nifty50 fell 0.62% to close at 18,696. While the autos index declined 1.1%, the financial services index declined 0.62% on Friday. In the Sensex pack, Mahindra &amp; Mahindra, Hindustan Unilever, Maruti, Nestle, HDFC, Asian Paints, Bajaj Finance and Power Grid were among the major laggards. Tata Steel, Dr Reddy's, Tech Mahindra, IndusInd Bank and HCL Technologies were among the winners. “As the market was in an overbought zone after the recent upsurge, correction was due for some time and hence investors booked profit in a trading session marked by weak Asian and European cues. The recent GDP numbers and GST collections came in line with expectations, but global news flow will continue to dictate the market trend going ahead,” said Amol Athawale, Deputy Vice President - Technical Research, Kotak Securities. Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong ended in the negative territory. Equity exchanges in Europe were trading mostly lower in the afternoon trade. Wall Street had ended lower on Thursday. "The rally in the domestic market was halted by negative cues from global counterparts and broad-based profit-booking in large caps. The correction in the market was led by auto stocks as the sales data came in lower-than-expected due to weaker exports and sequential de-stocking," Vinod Nair, head of research at Geojit Financial Services. Sensex had climbed 184.54 points or 0.29% to settle at 63,284.19, its fresh record closing high, on Thursday. The <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> advanced 54.15 points or 0.29% to end at 18,812.50, its new record closing high. International oil benchmark Brent crude was trading 0.13% lower at $86.77 per barrel. Foreign Institutional Investors (FIIs) offloaded shares worth ₹1,566 crore on Thursday, as per exchange data. (With inputs from PTI) SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/globalbees-to-cred-and-two-adani-group-companies-companies-which-command-high-valuations-with-low-revenues/articleshow/95929044.cms">The curious case of companies which command high valuations with low revenues</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-emerges-as-top-company-in-terms-of-value-revenue-and-profits-in-hurun-2022-list/articleshow/95910143.cms">Adani may be the richest Indian but Ambani’s RIL retains the top spot on Hurun's list of most valuable companies</a> <a href="https://www.businessinsider.in/careers/news/indian-workforce-smaller-than-pre-pandemic-days-but-quality-of-jobs-better/articleshow/95901676.cms">Indian workforce smaller than pre-pandemic days, but quality of jobs better</a>

Sensex, Nifty50 snap 8-day winning streak amid weak global cues – autos, financial services drag

<ul><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of the market, was down 0.32%.</li><li>Hawkish comments from the US Fed over inflation and economic concerns have spooked investors.</li><li><keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> opened 517 points lower at 59,144 and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> started the week 164 points lower at 17,593.</li></ul>Sensex slipped by 517 points in the early morning trade, falling below the 60,000 mark it hit last week. Nifty50 too started the week on a negative note as it fell 164 points to 17,593. Even auto companies which saw heavy buying in the last one week, too were a part of the <keyword id="2519297" type="General" weightage="20" keywordseo="top-losers" source="Orion">top losers</keyword> on the indices today. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.75% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospital </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.70% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Divi’s Laboratories </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.27% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.92% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finserv </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.86% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.86% </td></tr></tbody></table>The concerns of economic slowdown came back to haunt the markets late last week after the US Fed hinted at aggressive rate hikes. On Friday, the benchmark indices, Sensex and Nifty closed lower at 59,646 and 17,758 points respectively. “Technically, the Nifty witnessed profit booking near 18,000 level, while on daily charts, the index has formed a long bearish candle and also broke the important support level of 17,850 which is broadly negative. In addition, it has also formed Hammer candlestick formation indicating further weakness in the near future. Below 17900, the correction formation is likely to continue and could retest the level of 17600-17500. On the flip side, 17900 –17950 would act as an immediate hurdle for the bulls. Fresh uptrend is possible only if the index clears the resistance of 17950, which could then take it further to 18050-18150 levels,” Amol Athawale, deputy VP- technical research, Kotak Securities on last week’s market close. Oil prices have been falling and are now trading at $89 per barrel on fears of slowdown that could dent fuel demand. Markets had rallied in the last 30 days due to positive cues from global markets and FIIs coming back to emerging markets like India. However, after the US Fed meeting minutes released last week, recession fears re-merged. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/not-just-ev-makers-there-are-many-more-stocks-that-can-gain-from-ev-play/articleshow/93696654.cms">Not just EV makers, there are many more stocks that can gain from EV play</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/the-new-instant-noodle-fad-on-instagram-is-korean-noodles/articleshow/93659979.cms">Beyond the squid game: Indian taste seekers are warming up to K-noodles</a>

Sensex slips 517 points, goes below the 60,000-mark

<ul><li>Benchmark indices rallied furiously after a seven-day losing streak.</li><li>The <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> closed 1,016 points higher at 57,426 while the <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> sailed past the 17,000 mark to close 276 points higher.</li><li>All thanks to an optimistic commentary by the Reserve Bank of India regarding India being in a better position to balance growth and inflation compared to other advanced economies.</li><li>Das mentioned that economic activity in India remained stable, which gives the central bank confidence in dealing with current challenges.</li></ul>The Indian equity market on Friday ended on a positive note, after seven straight sessions of global markets-tracking losses. What helped was the optimistic commentary by the country’s central bank governor about India being in a better position to witness growth than any other advanced economies. The benchmark indices rallied fearlessly, breaking their seven-day losing streak. The Sensex closed 1,016 points higher at 57,426 while the Nifty50 went above the 17,000 mark, ending 276 points higher. "What lifted the market sentiment was the RBI's policy rate hike of 50 bps that came in as expected and its comment that India's economy remains on a strong footing despite global headwinds. The relief rally was backed by investors' preference for growth-driving stocks from banking, automobile, realty and metal space,” said Amol Athawale, deputy vice president - technical research at Kotak Securities. However, he added that global macro factors will continue to dictate the domestic market sentiment going forward. The Reserve Bank of India Governor Shaktikanta Das on Friday announced a 50 basis points hike in a key policy rate, largely in line with the market’s estimates. This takes the repo rate to 5.9%. With this, the RBI has hiked the key policy rate by 190 bps since May to tackle rising inflation which is hovering around 7%. “The Indian equity market witnessed a sharp bounceback after a seven-day fall. The fall in the dollar index and no negative surprise by the RBI led to a strong short-covering in the market,” Santosh Meena, head of research at Swastika Investmart. <div type="image" title="nifty" msid="94561583" hostid="261"></div>All sectoral indices were trading in the green after the RBI’s commentary on the Indian economy. “Soft landing is meant for advanced economies. For India, it is a take off,” said Michael Patra, deputy governor, RBI at a press conference on Friday. RBI Governor Das mentioned in his speech that economic activity in India remained stable, which gave the central bank confidence in dealing with current challenges. He added that despite these issues, the Indian economy continued to be resilient. “The 50 bps hike by the RBI was expected, especially since no global economy has hinted towards any kind of moderation. Inflation continues to ravage almost all economies, and India is no exception,” said Anuj Puri, chairman at Anarock Group. The BSE Sensex opened 175 points lower at 56,213 while the Nifty50 was down 53 points at 16,773 on opening. The market has been on a losing streak for the last seven sessions thanks to selling pressure in the equity market by foreign institutional investors (FIIs), who sold ₹3,750 crore in September. “Post RBI’s commentary, Nifty bounced in green and gained strength throughout the session. The rally was especially seen in banking sector stocks. This has also given some support to falling rupee which had depreciated by 7% since April,” Siddhartha Khemka, head - retail research at Motilal Oswal Financial Services said. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sectoral indices in green </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty PSU Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.01% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.61% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.24% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Metal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Energy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.04% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Realty </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.97% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.62% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Media </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.46% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.76% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty IT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.60% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nifty FMCG </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.11% </td></tr></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-50-bps-taking-it-to-a-three-year-high-of-5-9-das-says-inflation-at-alarmingly-high-levels/articleshow/94550429.cms">RBI hikes repo rate by 50 bps, taking it to a three-year high of 5.9% – Das says inflation at ‘alarmingly high levels’ across jurisdictions</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rbis-interest-rate-hikes-not-over-yet-but-intensity-might-come-down/articleshow/94558336.cms">RBI’s interest rate hikes not over yet, but intensity might come down</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/real-estate-demand-may-take-a-hit-this-festive-season-after-rbis-rate-hike/articleshow/94555871.cms">Real estate demand may take a hit this festive season after RBI’s rate hike</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/e-commerce-sales-will-drive-credit-cards-spends-in-september-says-report/articleshow/94538013.cms"></a>

You Searched For "amol athawale" and got 8 results

Indian markets ease as profit booking follows record-breaking streak

BI India Bureau

Stock market closing: Sensex, Nifty close the week in red, Sensex tumbles over 800 points

Ira Alok Puranik

Stock market closing: Sensex inches 800 points up to close at 79,705.91, auto, IT, PSU bank indices rally

Ira Alok Puranik

Stock markets close on a high; real estate stocks shine

BI India Bureau

Sensex, Nifty50 snap 8-day winning streak amid weak global cues – autos, financial services drag

Rounak Jain

Sensex slips 517 points, goes below the 60,000-mark

Bhakti Makwana

Benchmarks fly high on RBI’s rate hike, relief rally triggered by Governor’s positive commentary

Bhakti Makwana

Adani Group companies lose ₹3.22 lakh crore in market value amidst tussle with Hindenburg Research

Rounak Jain

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