Domestic indices ended deep in red on Wednesday falling below the crucial levels on the monthly F&O expiry day. The bloodbath on the Dalal-street pulled all the broader and sectoral indices down. The Nifty 50 settled below 17,900 and Sensex below 60,210 The top gainers of the BSE Sensex were Hindustan Unilever Ltd (HUL) (up 1.14%), Maruti Suzuki (up 0.96%), Tata Steel (up 0.54%), NTPC (up 0.39%) and Sun Pharma (up 0.38%) while State Bank of India (SBIN) (down 4.30%), IndusInd Bank (down 4.26%), HDFC Bank (down 2.78%), Axis Bank (down 2.02%) and HDFC (down 2.02%) were the losers. “Bears remained at the helm as the benchmark index Nifty shed more than 200 points on Wednesday. On the daily timeframe, the index remained below the 50-day exponential moving average. Besides, the index remained below the 50-day exponential moving average, which confirms the bearish trend. On the lower end, however, the correction was limited to the upper band of the falling wedge pattern on the daily chart. The sentiment looks very weak, with the RSI in a bearish crossover. However, a further correction may occur if the price falls below 17,840. On the higher end, resistance is placed at 18000,” said Rupak De, Senior Technical Analyst at LKP Securities.
Indian stock market
Most of the Asian markets remained closed on Wednesday. Japan’s Nikkei 225 rose 95.82 pts or 0.35% to 27,395.01 and South Korea’s KOSPI rose 33.36 pts or 1.39% settling at 2,428.62.
England’s FTSE100 was trading at 7,770.35, up 12.99 points or 0.17% at 2:45 PM (IST). Europe’s Euronext100 was down 1.84 points or 0.14% at 1,326.22. France’s CAC was trading 2.23 points or 0.03% lower at 7,048.25. Germany’s DAX was down 10.63 points or 0.07% at 15,082.33.
The US markets ended mixed on Tuesday. The Dow Jones Industrial Average (DJIA) rose 104.40 points or 0.31% settling at 33,733.96, S&P 500 fell 2.86 pts or 0.07% at 4,016.95 and Nasdaq dropped 30.14 pts or 0.27% at 11,334.27.
The Indian rupee appreciated 0.23% to 81.53 against the US dollar at 2:55 PM (IST).
Gold futures on the multi-commodity exchange for February delivery were trading at Rs 56,853.00 down 116 points or 0.20% while Silver futures for March delivery were down 142 points or 0.21% at Rs 68,400.00 at 2:57 PM (IST).
WTI Crude futures for February delivery were down 0.2% at $79.97 while Brent Crude futures for March delivery were trading 0.05% lower at $86.09 at 3:00 PM (IST).
Bitcoin (BTC) at 3:00 PM (IST) was trading at $22,647.87, down by 1.35% in the last 24 hours. Its total market cap is $436,461,654,085. Ethereum (ETH) was trading at $1,547.84, down by 5.02% in the last 24 hours. It has a total market cap of $189,439,931,387.