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The market ended its five-day winning streak and closed down on Tuesday, dampened by profit-taking as well as peer correction. Some banking and financial sectors, as well as auto and metal stocks pulled the market down.
The Bense Senbad stock, consisting of 30 stocks, yielded 134.32 points to 36,444.64 points, while the Nifty50 lost 39.10 points to 10,922.80 and was a kind of model of the type "Hanging Man" On the daily candlestick chart (after gaining more than 200 points in the previous five sessions).
"Nifty's short-term trend continues to be choppy." Unless we see evidence of vigorous upward momentum in Nifty / broader indices, we will likely not see any break-up at all. the rise in the market, "said Nagaraj Shetti, badyst of technical research at HDFC. Securities told Moneycontrol.
According to Pivot Charts, the key support level is 10,874.73, followed by 10,826.67. If the index starts to rise, the key resistance levels to monitor are 10 960.33 then 10 997.87.
The Nifty Bank index closed at 27,482.2, down 22.35 points on Jan. 22. The important Pivot level, which will be a crucial support for the index, is placed at 27,400.64, followed by 27,319.07. On the upside, key resistance levels are at 27,548.54, followed by 27,614.87.
Stay tuned to Moneycontrol to find out what is happening in the currency and stock markets today. We have collected a list of important titles from all news agencies.
Wall Street falls as economic outlook and business forecasts deteriorate
US stocks ended lower on Tuesday, marking a recovery in four sessions, as gloomy global economic growth prospects, trade worries and disappointing corporate forecasts have sullied confidence. The three major US stock indexes reduced their losses after White House economic adviser Larry Kudlow denied the Financial Times report that the Trump government had canceled preparatory trade talks with China.
The Dow Jones Industrial Average Index fell 301.87 points, or 1.22%, to 24,404.48. The S & P 500 lost 37.81 points, or 1.42%, to 2,632.9 and the
Nasdaq Composite lost 136.87 points, or 1.91%, to 7,020.36 points.
Asian stocks plummet, concern over growth and bitter trade
Asian equities edged down on Wednesday amid growing signs of slowing global growth and anger over an unresolved Sino-US trade dispute. Japan's Nikkei fell 0.7%, while the MSCI's largest index, composed of Asia-Pacific shares outside Japan, fell by 0.1%. %.
SGX Nifty
Trends on SGX Nifty indicate zero to negative opening for India's broader index, down 3 points or 0.03%. Nifty futures traded around the 10,929 level on the Singapore Stock Exchange.
Oil prices continue to fall as worries of economic slowdown weigh on markets
The increase in oil prices is down from the previous session on Wednesday, fears of an economic downturn having weighed on the markets. West Texas Intermediate (WTI) crude futures prices in the United States were $ 52.74 per barrel at 00:24 GMT, down 27 cents or 0.5% from their latest settlement.
The decline follows a 2% decline in crude oil futures and a collapse in global financial markets on Tuesday as concerns over global growth prompted investors to seek safe haven badets, such as debt securities, and more. State or gold.
The rupee falls 16 cents to 71.44 for a dollar
The rupee slid Tuesday at $ 16, its third consecutive loss, to close at 71.44 against the US dollar, in a context of strengthening the greenback and strong sales of domestic stocks.
Forex traders said worries about slowing global growth and foreign capital outflows were weighing on the local unit. On the interbank foreign exchange market (forex), the rupee opened up to 71.22 euros but suffered a pressure on the sale. It ended up at 71.44 for one dollar, down 16 points from its previous close.
The UN forecasts world economic growth of about 3% in 2019
The global economy will grow by about 3 percent a year in 2019 and 2020, but support for multilateralism, escalating trade disputes, rising debt, and climate risks are clouding the outlook, the 21 January the United Nations at the United Nations.
The UN report, Situation and Prospects for the Global Economy 2019, indicates that signs suggest that the economic growth spurt has "peaked", predicting that global growth will remain stable just below the 3.1% expansion of 2018.
But the report also points out that economic growth is uneven and often does not reach the poorest countries. Per capita income is expected to stagnate or experience only marginal growth this year in parts of Africa, West Asia, Latin America and the Caribbean, he said. .
RBI announces an OMO of 10,000 rupees
Continuing its commitment to provide sufficient liquidity, the Reserve Bank announced Thursday a buyout of 10,000 rupee crores on Thursday. The central bank had already committed to purchase government securities as part of its open market operations for a total amount of 50,000 crores of rupees in January and up to the end of the year. present made 30,000 crores of rupees.
The latest transaction to be held on Thursday was decided "based on an badessment of prevailing liquidity conditions as well as sustainable liquidity needs in the future," said the Reserve Bank.
The RBI will buy five securities maturing between June 2019 and December 2033, he said, detailing the details of each title.
China applies anti-dumping duties on chemicals from India and Japan
China has imposed anti-dumping duties on ortho-dichlorobenzene (ODCB) imported from India and Japan, which will enter into force on Wednesday. The domestic industry has suffered significant damage as a result of the dumping of these products, the Chinese Ministry of Commerce said Tuesday in a final decision at the end of anti-dumping investigations on imports.
Significantly, the announcement of the anti-dumping duties coincided with the trade talks that took place on Tuesday between visiting Trade Secretary Anup Wadhawan and Chinese Vice Minister of Commerce Wang Shouwen.
The two sides also held an in-depth debate on the widening trade deficit, which last year stood at 57.86 billion USD for a total bilateral trade of 95.54 USD.
48 companies today report third-quarter figures
Forty-eight companies will release their results for the December quarter later today, including names such as ITC, United Spirits, InterGlobe Aviation, DB Corp and Pidilite Industries.
Reserved speed gets Sebi's nod for the IPO
The fleet bus operator, Chartered Speed, has received approval from the market regulator, Sebi, to raise about 273 million rupees on its IPO. The company, which filed its draft documents with Sebi in September 2018, received "comments" from the regulator on January 11 this year, revealed the latest update on the market.
Proceeds from this new issue will be used to purchase pbadenger vehicles, investments in its subsidiary Chartered Bus Pvt Ltd, and other general corporate purposes. Chartered Speed Ltd's mission is to provide pbadenger mobility solutions for various modes of surface transport in India.
3 stocks during the NSE ban
Forbidden securities for overnight trading in the F & O sector include companies in which the stock has exceeded 95% of the position limit on the overall market.
For January 23, Reliance Capital, Adani Power and Jet Airways are present in this list.
With contributions from Reuters and other agencies
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