Last Updated: January 06, 2023, 09:26 IST
FILE PHOTO: A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, India, June 29, 2015. REUTERS/Danish Siddiqui
Sensex Today: Domestic markets opened volatile in Friday’s trade, amid weak global cues, and higher crude oil prices.
Sensex Today: Domestic markets opened volatile in Friday’s trade, amid weak global cues, and higher crude oil prices. The Sensex is up 77.23 points or 0.13% at 60,430.50. Nifty is up 24.60 points or 0.14% at 18,016.80. Hawkish minutes of the US Federal Reserve’s latest policy meeting, coupled with a strong jobs report in the US, have rekindled fears that the Fed shall remain steadfast on the path of monetary policy tightening in 2023.
Broader markets, too, were subdued in trade as Nifty MidCap 100 and Nifty SmallCap 100 indices declined up to 0.1 per cent.
Sectorally, Nifty Pharma, Nifty Metal, and Nifty FMCG indices held the fort with marginal gains. On the flipside, Nifty Auto, Nifty IT, and Nifty Media indices declined up to 0.4 per cent.
For the Bank Nifty, there was a bounce of 300 points from the lows on Thursday. Yesterday’s low of 42,298 is now considered a sacrosanct support level. On the upside, 42,800 will now act as resistance. It will be important to watch the price action in ICICI Bank. If ICICI Bank falls to its 200 day moving average, it could be a sign that the Bank Nifty could fall further.
Global cues
Global markets are flashing mixed signals with major indices in Asia, including Nikkei and Kospi, trading up to 0.3 per cent higher.
Overnight, however, Wall Street closed lower after a one-day hiatus with the S&P 500 falling 1.16 percent; Dow Jones 1 percent; and the Nasdaq Composite 1.47 percent.
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