MARKET WRAP: Sensex tumbles 416 pts, Nifty below 12,300; RIL declines 3%
All that happened in the markets today
 "MARKET LIVE: Sensex extends decline; FMCG, realty stocks gain in trade")
After scaling fresh record highs during the early morning deals on Monday, equity markets slumped nearly a per cent as investors booked profit and sold equities across the board. The benchmark S&P BSE Sensex declined 760 points from record high level of 42,273.87 to hit an intra-day low of 41,503.37. On the NSE, the Nifty50 slipped below the crucial 12,250 mark in the intra-day trade. The 50-share index hit a record high of 12,430.50-mark in the opening deals, before slipping to intra-day low of 12,220.70.
At close, the S&P BSE Sensex was down 416.46 points, or 0.99 per cent, to end at 41,528.91 level. Heavyweights like Reliance Industries, HDFC Bank, TCS, Axis Bank and SBI were the top contributors towards today's fall. At the index level, Power Grid (up 3.7 per cent), Bharti Airtel, and Asian Paints were the top gainers on the Sensex, while RIL (down 3.2 per cent), NTPC, and TCS were the top laggards.
The Nifty50, on the other hand, ended at 12,224.55-mark, down 127.80 points or 1.03 per cent. All the key sectoral indices closed the day in the negative territory, barring Nifty Realty and FMCG indices. Nifty Bank settled 494 points, or 1.6 per cent, lower at 31,096.35-mark, followed by Nifty Private Bank index (down 1.67 per cent).
The broader markets, too, gave up their 9-days gaining streak on Monday and settled the day in the negative territory. The S&P BSE mid-cap index declined 0.57 per cent to close at 15,618.86, while the S&P BSE small-cap index settled 0.43 per cent lower at 14,645.05.
GLOBAL MARKETS
World stocks held near record highs on Monday as generally better data and earnings bolstered sentiment, while oil prices hit their highest in over a week after two large crude production bases in Libya began shutting down following a blockade.
In Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan was flat having risen to its highest since June 2018. Japan’s Nikkei added 0.2 per cent to be near its highest in 15 months.
European equities opened a touch lower, with the pan-European STOXX 600 index slipping 0.3 per cent, after gaining nearly 1per cent on Friday. US stock futures, meanwhile, were down marginally.
In the commodities market, Brent Crude Futures were at $65.11 per barrel-mark, up 0.4 per cent at 3:30 pm. WTI Crude, on the other hand, was at $59.07 per barrel, up 0.84 per cent.
(With inputs from Reuters)
4:15 PM
Market Closing Comment :: Nagaraj Shetti, Technical Research Analyst, HDFC Securities
After showing a sideways range movement in the last four sessions, the Nifty witnessed a sharp profit booking today, from the new all time high of 12,430 levels and closed the day on a sharp negative note.
A large negative candle was formed today after opening gap up, this pattern indicates a formation of bearish engulfing of the last five trading sessions high low range. This is negative pattern and one may expect today's swing high to be a crucial top reversal pattern. Follow-through weakness could confirm the reversal.
The short term trend of Nifty seems to have turned down, more weakness could be in store in the short term. The next lower levels to be watched at 12,100, which could be reached in the next few sessions.
3:44 PM
Nifty snapshot at close
3:43 PM
Sensex heatmap at close
3:41 PM
Closing Bell
>> At close, the S&P BSE Sensex was down 416.46 points, or 0.99 per cent, to end at 41,528.91 level. Heavyweights like Reliance Industries, HDFC Bank, TCS, Axis Bank and SBI were the top contributors towards today's fall.
>> The Nifty50, on the other hand, ended at 12,224.55-mark, down 127.80 points or 1.03 per cent.
>> The Nifty50, on the other hand, ended at 12,224.55-mark, down 127.80 points or 1.03 per cent.
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Topics : MARKET WRAP
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First Published: Jan 20 2020 | 7:41 AM IST