Sensex, Nifty on weaker turf amid jitters on Wall Street - key triggers to watch out on Wednesday
Anil Singhvi Strategy on Nifty, Bank Nifty: Nifty will find support at 17,725-17,775 while resistance at 17,925-17,975. As for Bank Nifty, support is seen at 40,500 while resistance at 41,000. The markets lack important triggers that could propel it forwards, he said
Indian frontline indices S&P BSE Sensex and NSE Nifty50 will resume trading on Wednesday amid a host of local and global factors. Zee Business has collated key factors that are likey to impact movement tomorrow.
Tuesday Market Movement
Indian frontline indices S&P BSE Sensex and NSE Nifty50 ended negative for second consecutive day on Tuesday. Both Sensex and Nifty50 traded in a range with former moving within a 400-points range while latter in 120-points range. The 30-share Sensex ended at 60,672.72, down by 18.82 points or 0.03 per cent while the broader market Nifty50 settled at 17,826.70, down by 17.90 points or 0.1 per cent. Banking gauge Bank finished at Nifty 40,673.60, 28.10 points 0.07 per cent.
In the 50-share Nifty50, 20 stocks gained while 30 declined. The top gainers were NTPC, Britannia Industies, Tata Steel, Reliance Industries and Power Grid while the top losers were Adani Enterprises, Apollo Hospitals, Coal India, Bajaj Auto and Tata Motors.
Key tiggers for Wednesday, 22 February 2023
1) US Markets: Domestic markets will take cues from US market closing of Tueday and Dow Futures on Wednesday. They will also follow how Singapore-listed SGX Nifty futures, an early indicator of movement in Nifty50, trade tomorrow. At the time of filing this story, all three benchmark indices on Wall Street were trading in deep red. Dow 30 was trading at 33,286, down by 540.66 points or 1.60 per cent while S&P 500 was down 66.92 points or 1.64 per cent at 4,012.17. Nasdaq Composite was trading at 11,547.20, down by 240.11 points or 2.04 per cent.
Dow Futures were trading at 33,292.30, down by 534.40 points or 1.58 per cent while SGX Nifty was trading at 17,810, down by 35.5 points or 0.20 per cent around this time.
(Disclaimer: The views/suggestions/advises expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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