INSUBCONTINENT EXCLUSIVE:
The overall market breadth stood slightly positive as 2,068 stocks advanced while 1,334 declined on BSE.New Delhi: The Indian equity
benchmarks on Friday settled in red, halting a five-day winning run amid weak global cues
The 30-share BSE Sensex fell 12 points or 0.02 per cent to close at 61,223, while the broader NSE Nifty slipped 2 points or 0.01 per cent to
Sensex recovered more than 450 points from its intraday low of 60,757 before settling a tad lower.Global markets took a beating after more
Federal Reserve policymakers signalled they will start to raise United States interest rates in March to combat inflation
Fed Governor Lael Brainard became the latest and most senior United States central banker to signal that rates will rise in March to combat
inflation.Back home, mid- and small-cap shares finished on a mixed note as Nifty Midcap 100 index slightly declined 0.02 per cent and Nifty
Smallcap 100 index gained 0.75 per cent.12 out of the 15 sector gauges -- compiled by the National Stock Exchange -- settled in red
Nifty FMCG (fast-moving consumer goods) underperformed the index by sliding as much as 0.71 per cent."The winning streak of market was put
However, we saw some buying in quality counters in small-cap space
In coming days, we expect movement in markets to be sector-specific
However, mid- and small-cap space will show a good move in coming days
Overall, the market outlook looks positive and one should look to keep adding quality stocks in their portfolio
Traders should trade into sector-specific stocks, keep booking their profit and trail strict stop-loss," Rahul Sharma, Co-owner, Equity 99,
told TheIndianSubcontinent."For Nifty 50, after today's fall, 18,200 will act as very crucial support on breaking which we might see
On the upper side, 18,300 will act as a crucial hurdle, if this level is breached, we might see 18,370 levels and then even 18,480 looks
possible," he added.On the stock-specific front, Asian Paints was the top Nifty loser as the stock cracked 2.67 per cent to Rs 3,364
Axis Bank, UPL Ltd, Hindustan Unilever and ONGC were also among the laggards.On the flipside, Tata Consumer Products, Indian Oil, Tata
Consultancy Services, Infosys and Adani Ports were among the gainers.The overall market breadth stood slightly positive as 2,068 stocks
advanced while 1,334 declined on BSE.On the 30-share BSE platform, Asian Paints, Wipro, Mahindra - Mahindra, Axis Bank and HDFC attracted
the most losses with their shares falling as much as 2.66 per cent.TCS, Infosys, Larsen - Toubro, HDFC Bank, Tech Mahindra and Kotak
Mahindra Bank were among the gainers.Meanwhile, HCL Technologies, Ashirwad Capital and Gujarat Hotels are some of the companies which will
announce their respective third-quarter numbers later in the day.
