sensex today: Market Watch: Breach of 18,000 will intensify selling pressure | The Economic Times Podcast

Amid rising Covid-19 cases in China and other parts of the world, benchmark equity indices closed in the red on Thursday, with Sensex ending 241 points lower at 60,826, and Nifty50 ending 72 points lower at 18,127.

In the Sensex pack, M&M, Bajaj Finserv, IndusInd Bank, and Tata Motors were the top laggards, falling over 2% each. Tata Steel, L&T, Axis Bank, NTPC, and Tech Mahindra also ended lower. However, Sun Pharma, UltraTech Cement, Asian Paints, and Infosys managed to close with gains.

Sectorally, the Nifty PSU Bank fell 1.23% and Nifty Metal declined 1.13%, while metal, realty, auto, consumer durables, and oil & gas stocks also closed lower. In the broader market, Nifty Midcap50 declined 0.53% and Smallcap50 fell 1.31%.

Earlier Asian markets ended on a mixed note, China’s Shanghai Composite declined 0.46%, while Japan’s Nikkei 225 and South Korea’s Kospi rose 0.46% and 1.19%, respectively. The Indian rupee rose against the US currency on Thursday on the back of the dollar’s decline against its major peers and Asian currencies. The Brent crude February futures surged 1.58% to $83.51 per barrel.

The market capitalisation of all listed companies on BSE declined by Rs 2.44 lakh crore to Rs 280.51 lakh crore. The market breadth was skewed in favour of bears. About 2,792 stocks declined, 765 gained and 95 remained unchanged.

Mr Gaurav Ratnaparkhi of Sharekhan said breach of 18000 on a closing basis will intensify the selling pressure and shift the near term resistance zone lower to 18200-18300.

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