Sensex, Nifty Snap 4 days losing points led by Infosys, Bajaj Finance

Sensex, Nifty Snap 4 days losing points led by Infosys, Bajaj Finance

India’s equity benchmarks marked their four-day losing streak, led by profits from Infosys, Bajaj Finance, Reliance Industries, Tata Consultancy Services, Titan and HCL Technologies. For most of the day, benchmarks swing between gains and losses due to the slight volatility caused by index futures and options expiring on a weekly basis. The Sensex is trading within a 650-point range and the Nifty 50 index hit an intraday high of 17,379.35 and a low of 17,195.

The Sensex finished 113 points higher at 57,901, and the Nifty 50 index rose 27 points to 17,248.

“After seeing a breakout momentum in November, Nifty managed to form a key support at 16,600. Volatility continues to remain high due to global factors. Markets now. is hovering around key support levels and offers good risk-reward opportunities as long as 16,600 Sahaj Agrawal, head of derivatives research at Kotak Securities, said:

Twelve of 15 industry measures compiled by the National Stock Exchange ended lower, led by a nearly 2% drop in the Nifty Media index. The Nifty Pharma, Private Bank, Realty, Healthcare, Auto, Bank and FMCG indices also fell between 0.5-0.8%.

On the other hand, the IT, Oil & Gas and Consumer Goods indexes closed higher.

Mid- and small-cap stocks underperformed larger stocks as the Nifty Midcap 100 index fell 0.69% and the Nifty Smallcap 100 index fell 0.83%.

Hindalco was the biggest loser in Nifty, shares down nearly 2% to close at Rs 450. Cipla, Sun Pharma, ICICI Bank, Bajaj Auto, Hero MotoCorp, Maruti Suzuki, Eicher Motors, IndusInd Bank, UPL, SBI Life and State Bank of India also fell between 0.6-1.5%.

On the other hand, Bajaj Finance, Infosys, Bharat Petroleum, Wipro, Reliance Industries, Titan and HCL Technologies are among the top bullish Nifty companies.

Market breadth was generally negative as 1,843 shares closed lower while 1,508 shares closed higher on the BSE. Sensex, Nifty Snap 4 days losing points led by Infosys, Bajaj Finance

Emma James

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