Tuesday, 25 January 2022




Profit booking, global volatility dent equities, IT stocks fall

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5 Dariya News

Mumbai , 27 Nov 2020

The Indian equity markets closed on a flat-to-negative note on Friday as minor profit booking, along with global volatility, dented investors' sentiment.Both the key Indian equity benchmark indices -- S&P BSE Sensex and the NSE Nifty50 -- ended lower in a highly volatile session.Globally, Asian and European stocks were mixed amid thin trading volumes, as investors were unnerved on reports doubting the efficacy of AstraZeneca's Covid-19 vaccine.Back home, markets were volatile ahead of the Q2FY21 GDP data.Among sectors, auto and PSU banks were the main gainers while IT, infra and energy indices were the laggards.Consequently, the NSE Nifty50 closed 18.05 points, or 0.14 per cent, down to close at 12,968.95 points.Similarly, the S&P BSE Sensex ended at 44,149.72 points, lower by 110.02 points, or 0.25 per cent, from its previous closing."A upward breach of 13,146 is necessary to expect more upsides while a downward breach of 12,833 could bring in more downsides and mean that a temporary top has been made on Nov 25," said Deepak Jasani, Head of Retail Research at HDFC Securities."A better than expected India Q2 GDP number this evening could result in a good opening on Tuesday.""Going ahead, the overall structure of the market remains positive, but intermittent profit booking cannot be ruled out given the sharp rally in the past few weeks," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services."Technically, Nifty has to hold above 12,900 to witness a bounce towards 13,150-13,250 levels while the support exists at 12,800."The Indian equity markets will remain closed on Monday to mark the Guru Nanak Jayanti.


Tags: Sensex , Mumbai , BSE , Nifty , Shares , National Stock Exchange , Stock market



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