Dear Trader…
The benchmark BSE Sensex lost 1,176 points or 1.49% to settle at 78,041, while the broader Nifty Future index closed at 23,625, lower by 393 points or 1.64%.
The market capitalization of all listed companies on the BSE decreased by Rs 10.15 lakh crore to Rs 440.99 lakh crore.
Nifty 50 heavyweights HDFC Bank and Reliance Industries (RIL) fell 1% and 2%, respectively, and were the biggest drags on the benchmark.
Financial stocks were the biggest drags on the benchmarks, with the Nifty financial services closing 1.3% lower while Nifty Bank and Nifty PSU posted 1.6% and 2.7% declines for the day, respectively.
U.S. rate-sensitive domestic IT firms ended 2.6% lower, dragged by declines in LTIMindtree, Mphasis, LTTS, and Infosys. The sector gave up early gains despite a boost in sentiment after IT giant Accenture surpassed Wall Street expectations for Q1 revenue and profit while raising its annual forecast.
Global markets - Global shares were mostly lower Friday, with Asian equities hitting a fresh three-month low as markets awaited key U.S. inflation data for November that could either ease or worsen concerns about stubbornly high price pressures.
Britain’s FTSE 100 lost 0.3% and Germany’s DAX was 0.9% lower. Meanwhile, in Asia, Tokyo’s Nikkei 225 index dropped 0.3% after the release of November inflation data on Friday.
The Hang Seng in Hong Kong added 0.2%, while the Shanghai Composite index edged 0.1% lower after China’s central bank kept its loan prime rates unchanged on Friday.
Forex - The Indian rupee closed at 85.0150 against the U.S. dollar on Friday, after hitting an all-time low of 85.10 earlier in the session. The currency declined 0.2% week-on-week, continuing its losing streak into a seventh straight week.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.14% at 108.26.
Crude Oil - Oil prices slipped on Friday on concerns about demand growth in 2025, especially in top crude importer China, putting global oil benchmarks on track to end the week down nearly 3%.
Brent crude futures fell by 33 cents, or 0.45%, to $72.55 a barrel by 0730 GMT on Friday.
Foreign institutional investors (FIIs) offloaded equities worth Rs 4,224.92 crore on December 19, while domestic institutional investors purchased equities worth Rs 3,943.24 crore on the same day.
Nifty futures opened at 23994 points against the previous close of 24018 and opened at a low 23575 points. Nifty Future closed with an average movement of 522 points and Decline of around 393 points and closed 23625 points...!!
Meanwhile, Nervousness continued to grip investors and stocks across-the-board went into a tailspin as the dollar's continuing strength against the rupee has been prompting foreign investors to flee local equities and take shelter in safe haven dollar assets.
Investors are also apprehensive about U.S. President-elect Donald Trump's trade policies when he takes charge in mid January next year, “as his aggressive policies could further roil global markets.
Technically, the important key resistances are placed in Nifty future are at 23625 levels, which could offer for the market on the higher side. stainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 23707 – 23808 levels. Immediate support is placed at 23373 – 2303 levels.
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