Stock Market Update- Nifty dropped below 22,400 as Indian equities indices concluded the erratic session on April 26. This action interrupted a five-day winning streak.
The Nifty was down 150.30 points, or 0.67 percent, at 22,420 at the closing, while the Sensex was down 609.28 points, or 0.82 percent, at 73,730.16.
The BSE Sensex increased by 0.9 percent and the Nifty50 gained 1.2 percent for the week.
The market opened higher despite conflicting global cues, but it quickly gave up all of its gains and moved in the negative territory for the remainder of the day, closing close to the day’s peak.
On the Nifty, Tech Mahindra, Divis Labs, LTIMindtree, Bajaj Auto, and BPCL were the top gainers, while Bajaj Finance, Bajaj Finserv, Nestle India, IndusInd Bank, and M&M were the top losers.
Both the smallcap and midcap indexes on the BSE are up 0.3% and 0.8%, respectively.
Among specific stocks, Aditya Birla fashion, SAIL, and L&T Technology Services all experienced volume spikes of greater than 100%.
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INDEX PRICES VARIATION %
Nifty 50: 22,419.95 – 150.40 -0.67% Sensex: 73,730.16 -609.28 -0.82%
Nifty 50 22,419.95 -150.40 (-0.67%) Nifty Bank 48,201.05 -293.90 -0.61%
Friday, April 26, 2024
1M 3M 6M 1D 5D 1Y 2Y
MAXIMUM CHANGE IN PRICES % for Tech Mahindra+7.43% 1,278.75 88.45
The largest percentage change in prices for Bajaj Finance5,63.70~-7.73%~6,731.20~
The best sector prices changed by 0.79%, while the Nifty Midcap 100 was 50624.10, 395.60.
Nifty Bank 48201.10 -293.85 -0.61% WORST SECTOR PRICE CHANGE %
Control of finances
Stock Market Update- Major Players Today
Tech Mahindra, GMR Airports Infrastructure, and Container Corporation of India all had lengthy build-ups, however L&T Technology Services, Bajaj Finance, and Bajaj Finserv had shorter build-ups.
Aegis Logistics, BHEL, Biocon, CG Power, Chambal Ferterlisers, Colgate Palmolive, Container Corporation, Deepak Nitrite, Dixon Technologies, Eicher Motors, Havells India, Hindalco Industries, HUDCO, JSW Steel, Kirloskar Oil, MM Forgings, Samvardhana Motherson International, Motilal Oswal, Muthoot Finance, NMDC, Puravankara, SAIL, SBI, Tata Steel, Vedanta, and many more stocks reached their 52-week high on the BSE.
Throughout the day, selling pressure was observed on the Nifty. The daily charts show that the Nifty has experienced selling pressure from the 22560–22625 resistance zone. We should anticipate that the consolidation will continue as long as this zone is not firmly eliminated.
Crucial support for the downside is currently located between 22240 and 22200, where support parameters are represented by the 40-day moving average and the 50% Fibonacci retracement level of the increase from 21777 to 22626.
Regarding the Bank Nifty, the bounce back from the lows of the previous day was brief and devoid of subsequent purchasing activity. The momentum indicator’s divergence also contradicted the upward trend. There may be some consolidation as a result of this soon. On the down side, the critical threshold to be aware of is 47500.
Throughout the session, the Nifty was under selling pressure since the index was unable to hold above the pivotal level of 22500. A heavy cloud cover pattern on the daily chart suggests a possible bearish reversal.
The Nifty could continue to decline towards 22000 if it breaks below the immediate support level of 22300.
However, the Nifty may encounter technical resistance at the level of 22500.
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