Nifty50: Market Watch: Are Nifty bulls staging a comeback? | The Economic Times Podcast

As traders chose to play safe ahead of the release of US monthly jobs data later in the day, benchmark equity indices ended flat. The 30-share Sensex fell 31 points to end at 58,191. Its broader peer, Nifty50, ended at 17,314, down 17 points.

Among Sensex stocks, M&M fell 1.37 per cent to Rs 1,239.25. UltraTech Cement was down 1.29 per cent, SBI decreased 1.28 per cent and TCS plunged 1.28 per cent. Bajaj Finance, ITC, HCL Tech and Tech Mahindra also ended with losses.

On the other hand, Titan surged 5.27 per cent to Rs 2,730.50. Power Grid Corp, NTPC and Maruti Suzuki rose 1.36 per cent, 0.96 per cent and 0.93 per cent, respectively.

Sectorally, the Nifty IT fell 0.70 per cent and Nifty FMCG dropped 0.64 per cent per cent.

In Nifty IT, TCS and Persistent Systems were down more than 1 per cent, while in Nifty FMCG, Godrej Consumer Products fell 2.72 per cent.

Earlier in the Asian market, Japan’s Nikkei 225 fell 195 points, or 0.71 per cent, to 27,116. South Korea’s Kospi plunged 5 points, or 0.22 per cent, to 2,232, while Taiwan’s Taiwan Weighted dropped 189 points, or 1.37 per cent, to 13,702.

The rupee dropped to a record low of 82.42 against the US dollar. The domestic unit weakened 0.44 paise to close at 82.32 against the US dollar.

Mr Apurva Sheth of Samco Securities said following a hefty battering from 18,100 levels a few weeks ago, it appears that the bulls are finally making a comeback. The bulls are expected to maintain 17,000 for the month of October before attempting to retest at 18,100. Short-term resistance is positioned at 17,500 levels, he said.

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