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Sensex ends 143 pts lower, Nifty holds 17,500; M&M, SBI top losers

Sensex ends 143 pts lower, Nifty holds 17,500; M&M, SBI top losers

The benchmark indices ended lower tracking weakness in banking and energy stocks amid a mixed trend overseas.

Sensex ends 143 pts lower, Nifty holds 17,500; M&M, SBI top losers Sensex ends 143 pts lower, Nifty holds 17,500; M&M, SBI top losers

The benchmark indices ended lower tracking weakness in banking and energy stocks amid a mixed trend overseas. The 30-share BSE index ended 143.20 points or 0.24 per cent lower at 58,644.82. Similarly, the NSE Nifty shed 43.90 points or 0.25 per cent to close at 17,516.30.
 
SBI was the top loser in the Sensex pack, shedding 1.92 per cent, followed by M&M, NTPC, Kotak Mahindra Bank and Bajaj Finserv.
 
"After a flat opening, the Nifty index traded sideways to lower for the day and settled at 17,516.30 levels with a loss of 0.25 per cent while Bank Nifty plunged by 0.57 per cent to close at 38,789.35 levels," said Sachin Gupta, AVP, Research, Choice Broking.
 
"On the sectoral front, all the major indexes ended in red except Nifty Metal while Nifty Auto & PSE were the top losers. On the technical front, the index has slipped below the prior bearish candlestick on the daily time frame, which points out the weakness in the counter for the time being," he said.
 
Moreover, he added that the index has also traded below Middle Bollinger Band formation and 21-days SMA, which indicates further bearishness for the coming day. On an hourly chart, the index has shifted below the Rising Trendline, which suggests a weakness.
 
"An indicator Stochastic witnessed a negative crossover on a daily scale. At present, the index has support at 17,400/17,250 levels while resistance comes at 17,800 levels. On the other hand, Bank nifty has support at 38300 levels while resistance at 39200 levels," he further added.
 
Of the Sensex constituents, 19 shares closed lower while 11 were in the green.
 
Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul closed on a firm footing. Chinese markets were shut for the Lunar New Year holidays.
 
Stock exchanges in Europe were trading on a mixed note in mid-session deals.
 
International oil benchmark Brent crude surged 1.22 per cent to $92.22 per barrel.
 
Foreign institutional investors (FIIs) sold shares worth Rs 1,597.54 crore on February 3, and domestic institutional investors (DIIs) bought shares worth Rs 370.58 crore, as per provisional data available on NSE.

Published on: Feb 04, 2022, 5:06 PM IST
Posted by: Tanya Aneja, Feb 04, 2022, 5:03 PM IST
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