Stock Market Live Highlights: Despite A Strong Start, Markets End In Red
Selling pressure in HDFC Twins further dampened investor morale.
Trending Photos
Benchmark indices got off to a good start thanks to confidence in the US market and purchasing in Reliance Industries.
In line with the negative trend in Asian markets driven by recent outflows of foreign funds, benchmark indices on Friday gave up early gains and finished down. Selling pressure in HDFC Twins further dampened investor morale.
Despite a strong start, the BSE Sensex fell 141.87 points, or 0.24 percent, to end the day at 59,463.93 points. It dropped 280.46 points or 0.47 percent over the day to 59,325.34. To finish at 17,465.80, the NSE Nifty fell 45.45 points, or 0.26 percent.
"The February month started with volatility on the Budget Day and the trading has remained range bound for the last 4 weeks. The range for the whole February series was from 18,100 to 17,450 levels and prices continued to trade in line with the 9 & 21 EMA...Technically, the structure is shifting its momentum towards the bears, and the immediate support for the Nifty is placed at around 17,300 – 17,200 levels. In case prices drift below these levels, then 17,000 – 16,800 will be on the cards. Only a sustained close above the 17,800- 17,850 zone is likely to trigger bullish momentum toward the 18,150 – 18,200 levels," Rohan Patil, Technical Analyst, SAMCO Securities
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.