Business News›Markets›Stocks›Podcast›ET Market Watch: Indian indices end record streak, Sensex and Nifty retreat
Tune in now for Markets news, views & cues
ET Market Watch (ETMarkets.com)
Indian indices end record streak, Sensex and Nifty retreat
Neha Vashishth | 02:17 Min | June 28, 2024, 10:38 PM IST
Markets got a bit jinxed today and ended their four-session green streak on Friday. This was due to selling pressure on bank stocks.
Transcript
Welcome to a brand-new episode of ET Market Watch! Your daily dose of market updates, stock movements, trends & more. This is your host Neha V Mahajan, Let's dive into it...
Sensex and Nifty
Markets got a bit jinxed today and ended their four-session green streak on Friday
This was due to selling pressure on bank stocks.
Sensex closed at 79,032, down 568 points while Nifty 50 hit a high of 24,174 intraday. Nifty closed down 34 points at 24,010.
Sectoral Performance
5 of 16 NSE sectoral indices ended in red, with Nifty Bank and Nifty Financial Services leading losses of up to 1%. Nifty Healthcare and Nifty Oil & Gas gained over 1%.
Technical outlook
Rupak De, Senior Technical Analyst at LKP Securities said that the sentiment seems strong as the index closed significantly above the critical moving average. However, it looks a bit heavy after a continuous rally and could attract profit booking if Nifty sustains below 24,000.
On charts, the index has formed a small-bodied red candle. As per Rupak De- Nifty could fall towards 23,850-23,700 in the short term upon a decisive fall below 24,000. On the higher end, resistance is visible at 24,200
Global Markets
Nikkei 225 up 0.61%, while Hang Seng ended flat with slight gains
Shanghai Composite was up 0.73% and FTSE Straits Times Index was down 0.27%.
Sensex and Nifty
Markets got a bit jinxed today and ended their four-session green streak on Friday
This was due to selling pressure on bank stocks.
Sensex closed at 79,032, down 568 points while Nifty 50 hit a high of 24,174 intraday. Nifty closed down 34 points at 24,010.
Sectoral Performance
5 of 16 NSE sectoral indices ended in red, with Nifty Bank and Nifty Financial Services leading losses of up to 1%. Nifty Healthcare and Nifty Oil & Gas gained over 1%.
Technical outlook
Rupak De, Senior Technical Analyst at LKP Securities said that the sentiment seems strong as the index closed significantly above the critical moving average. However, it looks a bit heavy after a continuous rally and could attract profit booking if Nifty sustains below 24,000.
On charts, the index has formed a small-bodied red candle. As per Rupak De- Nifty could fall towards 23,850-23,700 in the short term upon a decisive fall below 24,000. On the higher end, resistance is visible at 24,200
Global Markets
Nikkei 225 up 0.61%, while Hang Seng ended flat with slight gains
Shanghai Composite was up 0.73% and FTSE Straits Times Index was down 0.27%.
Also Listen
ET Market Watch: Nifty tops 24,000, Sensex up 569 points; key reasons behind market rally
Jun 27, 2024, 10.47 PM IST LISTEN02:40ET Market Watch | Sensex surges over 600 points, Nifty tops 23,850
Jun 26, 2024, 10.08 PM IST LISTEN02:12ET Market Watch: Sensex scales Mt 78K, Nifty hits new life high of 23,754
Jun 25, 2024, 10.37 PM IST LISTEN02:17
