The Indian market ended lower for the third consecutive session on Thursday amid weak global cues. Sensex closed 634 points lower at 59,464 and Nifty fell 181 points to 17,757.
9:16 am: Market opening
Indian benchmark indices opened sharply lower amid weak global cues. At 09:16 hours, the 30-share BSE index was trading 507 points lower at 58,957.27, and the broader NSE Nifty was down 185 points to 17,571.80.
Bajaj Finserv was the top loser in the Sensex pack, declining over 2 per cent, followed by Tech Mahindra, Bajaj Finance, Wipro, Infosys and Titan.
ITC and HUL were among the top Sensex gainers.
9:10 am: Market at Pre-open
The benchmark indices were trading sharply lower in the pre-open session. Sensex was trading 425 points lower at 59,039.37 and Nifty was down 143 points at 17,613.70.
8:55 am: Pre-market comment by Mohit Nigam, Head – PMS, Hem Securities
Benchmark Indices saw heavy losses for three sessions and is expecting a gap-down opening on Friday. The Singapore-based SGX Nifty Futures, an early indicator of Nifty50’s performance, indicated a negative start for the domestic market as it fell by 135 points.
Other Asian markets declined to track overnight losses on Wall Street, amid concerns about an earlier-than-expected tightening of monetary policy and the pace of economic recovery in the US due to the Omicron variant of COVID-19. As investors turned to the safe-haven assets while awaiting signals on interest rate hikes from the U.S. Federal Reserve’s meeting next week, Gold prices were muted on Friday.
Results on 21th January: Reliance Industries, HDFC Life Insurance Company, SBI Life Insurance Company, JSW Steel, Bandhan Bank, CSB Bank, Gland Pharma, Hindustan Zinc, IDBI Bank, Vodafone Idea will be closely tracked to see market movements.
On the technical front, the key resistance levels for Nifty50 are 18,300 followed by 18,500 and on the downside 17,600 followed by 17,300 can act as strong support. Key resistance and support levels for Bank Nifty are 38,500 and 37,500 respectively.
