Nifty and Sensex: At 9:33 a.m., the S&P BSE Sensex dropped 0.12% to 71,876.73, and the NSE Nifty50 dropped 0.6% to 21,723.15. On the other hand, the trading session began favorably for the broader market indices.
Briefly
- Financial and banking stocks caused benchmark indices to decline.
- Hindalco, BPCL, ONGC, HUL, and JSW Steel were the top Nifty50 gainers.
- Titan, ITC, HDFC Life, Bajaj Finance, and Bajaj Finserv were the biggest losses.
Following a flat opening on Tuesday, benchmark stock market indices declined, led by equities in the banking and financial services sectors. At 9:33 am, the NSE Nifty50 dropped 0.06 percent to 21,723.15, while the S&P BSE Sensex slid 0.12% to 71,876.73. However, the market indices as a whole had a strong start to the trading day. High-weightage Early trade saw significant declines in the Nifty Bank and Nifty Financial Services sectors indices. On the other hand, the Nifty Metal index rose 1.1 percent, and Nifty IT saw a strong recovery of 0.8 percent. – Nifty and Sensex
Examining the daily charts shows that the Nifty has exceeded its earlier swing high of 21,750, indicating a break in the downtrend by breaking the pattern of lower highs and lower lows, as highlighted by the analyst. Looking ahead, the index could extend its pullback towards 21,950, with 21,850 to 22,000 posing as immediate resistance levels, Bhojane went on to say.
