Sensex falls 260 pts in fag-end, Nifty holds 21,550; FMCGs crack, PSBs soar
Stock market highlights on January 20, 2024: Among sectors, the Nifty IT, and FMCG indices fell 1 per cent each, while the Nifty PSU bank index added 1.9 per cent
 "BSE, NSE, Sensex, Nifty, stock markets")
BSE, NSE, Sensex, Nifty, stock markets
Closing Bell on January 20: Equity markets remained range-bound on Saturday as volumes remained low due to weekend trading, and lack of global cues.
The S&P BSE Sensex traded around flat line for better part of the day, but fell nearly 300 points in the fag-end. It ended at 71,424, down 260 points or 0.36 per cent.
The Nifty50, on the other hand, settled at 21,572, down 51 points or 0.23 per cent.
Kotak Bank, ICICI Bank, Power Grid, HDFC Bank, SBI, NTPC, and Axis Bank were the top gainers, rising between 0.15 per cent and 2.33 per cent.
On the downside, HUL, M&M, TCS, IndusInd Bank, HCL Tech, Nestle India, Wipro, Bajaj Finserv, JSW Steel, and Asian Paints ended up to 3.33 per cent lower.
In the broader markets, the BSE MidCap and SmallCap added 0.4 per cent each.
3:54 PM
Tech View :: 'Nifty needs to break 21,500-21,700 for directional move'
The Nifty opened higher and remained volatile throughout the day. The overall consolidation phase may persist for the next few days or until the Nifty stays within the range of 21,500-21,700.
Only a decisive breakout on either side could initiate a directional move. A significant decline below 21,500 might trigger a correction towards 21,300 and below.
Conversely, a robust breakout above 21,700 is needed for a resumption of the uptrend.
Views by: Rupak De, Senior Technical Analyst, LKP Securities
Only a decisive breakout on either side could initiate a directional move. A significant decline below 21,500 might trigger a correction towards 21,300 and below.
Conversely, a robust breakout above 21,700 is needed for a resumption of the uptrend.
Views by: Rupak De, Senior Technical Analyst, LKP Securities
3:52 PM
Tech View :: 'Bank Nifty needs to breach 46,300 to extend gains'
The Bank Nifty index displayed resilience by forming a higher low on the daily chart while maintaining the immediate support zone of 45,700-45,600.
To resume the uptrend, the index needs to overcome the immediate resistance at 46,300, a breakthrough that could trigger short-covering, propelling it towards 46,500/46,800 levels.
However, a close below the crucial support of 45,600 might instigate a substantial downside correction towards 44,000.
Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
To resume the uptrend, the index needs to overcome the immediate resistance at 46,300, a breakthrough that could trigger short-covering, propelling it towards 46,500/46,800 levels.
However, a close below the crucial support of 45,600 might instigate a substantial downside correction towards 44,000.
Views by: Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
3:49 PM
Comment :: What will drive the markets next week?
Amid rising optimism about AI, US markets surged over the weekend. However, domestic markets exhibited a subdued trend influenced by extended holidays, low volumes, and weekly option expiration. Profit booking was noted in IT and FMCG, while private banks witnessed selective buying post the recent sharp correction and stable Q3 earnings. Next week, the interest rate decisions of the BoJ and ECB, along with US GDP data, are anticipated to drive the market dynamics.
Views by: Vinod Nair, Head of Research, Geojit Financial Services.
Views by: Vinod Nair, Head of Research, Geojit Financial Services.
3:43 PM
Broader markets :: Mid, SmallCap indices outperform, rise 0.4% each
3:42 PM
Sectoral trends :: IT, FMCG indices slide; PSBs rally in last hour
3:40 PM
Sensex Heatmap :: Kotak Bank, ICICI Bank rally up to 2%
3:39 PM
CLOSING BELL :: Nifty holds 21,550 amid profit booking
3:38 PM
CLOSING BELL :: Sensex falls in fag-end trade
3:19 PM
Sector Watch :: PSU Bank stocks rally in weak market
3:07 PM
ALERT :: Adani group buzzing in trade
Topics : Stock Market MARKET LIVE MARKET WRAP stock market trading Dalal Street Q3 results Markets Sensex Nifty Midcap smallcap Reliance Industries Hindustan Unilever
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First Published: Jan 20 2024 | 7:33 AM IST