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Covid-19, growth concerns push Sensex 635 pts down, Nifty below 18,200

CLOSING BELL: The Pharma index advanced over 2 per cent today as diagnostics and healthcare firms climbed amid rising Covid-19 cases globally

SI Reporter New Delhi
MARKET LIVE: Sensex down 600 pts, Nifty tests 18,200; Financials weigh

2 min read Last Updated : Dec 21 2022 | 4:18 PM IST
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4:18 PM

NIFTY VIEW: Index may test crucial support of 18K in the short-term

The Nifty had a gap up opening on December 21 however the index stumbled near the hourly upper Bollinger Band.

Thereon it witnessed downside pressure throughout the day. It breached certain short term supports on the way down & ended marginally below the level of 18200.

India VIX shot up today & can lead to increased volatility in the short term.

Thus the index can have a short term range shift on the downside & can test 18000 on the downside, which is a crucial support. On the other hand, short term resistance zone shifts lower to 18450-18500.

Views by Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas

4:15 PM

COMMENT: IT stocks withstand selloff on bargain buying

Bears continued to cause havoc in the domestic market while Wall Street snapped its losing streak ahead of the release of the US GDP numbers.

Though all other sectors bled, pharma stocks were on a high owing to renewed fears of a global COVID outbreak, and IT witnessed bargain buying.

The market also anticipates the release of the RBI meeting minutes for more clarity on the central bank’s thought process.

Views by Vinod Nair, Head of Research at Geojit Financial Services.

4:13 PM

Sensex closes at 1-month low since Nov 21st closing

4:11 PM

IPO WATCH: Elin Electronics issue subscribed 81% so far on day 2

4:09 PM

IPO WATCH: KFin Tech offer subscribed 2.6x so far on last day; QIB portion subscribed 4x

4:06 PM

Rajnish Wellness edges 2% up on receiving eastern Railway nod to set up business centres

The company has been allowed to set its business centres at over 500 railway stations. 

4:05 PM

BS BFSI Summit LIVE: Rising interest rates will buoy the deposit markets, says IDFC Bank MD


4:01 PM

Thyrocare jumps 16%, Dr Lal Pathlabs 6% as health minister bats for bolstering Covid surveillance

4:00 PM

BS BFSI Summit LIVE: Discussion on wanting to become a bank

We should be called BFC - Bank Life Finance Company, says Ramesh Iyer, Managing Director of M&M Financial Services
 
Always believed we have to work within regulatory frameworkd. We are very happy where we are, says Rajiv Sabharwal, CEO and Managing Director of Tata Capital

3:59 PM

Glenmark Pharma surges 8% on launch of triple FDC drug for type-2 diabetes

3:59 PM

BS BFSI Summit LIVE: Data privacy and regulation a roadblock to fintech growth, says IDFC Bank MD

 

3:56 PM

BS BFSI Summit LIVE: Discussion on lack of re-financing option

On the liability side, there is a question mark every 4-5 years on NBFCs, says Rakesh Singh, CEO of Aditya Birla Finance. For banks RBI is there as a last resort, for NBFCs there is no such window, Singh adds.

3:55 PM

Shyam Metalics closes off day's high; says 4 capacities ready for production

3:55 PM

BS BFSI Summit LIVE: Partnership with neo-banks will be a crucial step in future, says Axis Bank MD & CEO

>> Acquisitions of neo-banks have declined due to new regulation
>> Partnership with neo-banks will be a crucial step

3:53 PM

IT stocks hold fort; lead gains on Sensex

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Topics :SensexInflationMARKET LIVEMARKET WRAPNiftyBSE NSEMarket trendsTrading strategiesstock market tradingIndian marketsFII flowsDIIsCrude Oil PriceRupee vs dollarShyam Metalics & Energy Ltd.Bharti Airtelstocks to watchBuzzing stocks

First Published: Dec 21 2022 | 8:13 AM IST

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