Taking Stock | Sensex, Nifty end in the red; mid, smallcaps outshine benchmarks
Mid and small-caps outperformed their larger peers as the BSE Midcap and Smallcap indices closed 1.05 and 0.85 percent higher, respectively. January 07, 2021 / 04:38 PM IST
Indian equity benchmarks ended lower for the second consecutive day on January 7, dragged by losses in shares of select banking, FMCG and IT heavyweights such as Infosys, Hindustan Unilever, ICICI Bank, ITC and Kotak Mahindra Bank.
Market barometer Sensex opened in the green and traded with gains for the most part of the day. However, in the fag end, it succumbed to bears as investors took money off the table at higher levels.
Target:1,210 Stop loss: 1,050 Shriram Transport Finance has surpassed the hurdle of the previous swing high around 1,108 levels in Tuesday s trade. It has been consistently moving higher after testing the support zone of the short term moving average (50 EMA) on the daily chart. The recent buoyancy in the financial space is pointing towards the prevailing bias to continue ahead as well.
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Disclaimer: Ajit Mishra is VP - Research at Religare Broking Dear Reader,
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Benchmark indices were trading with minor losses in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, fell 60.92 points or 0.13% at 47,685.30. The Nifty 50 index slipped 17.05 points or 0.12% at 13,964.90.
The S&P BSE Sensex hit a record high of 47,865.56 while the Nifty index hit a record high 14,010.15 today. Trading was volatile as the December 2020 F&O contracts expire today, 31 December 2020.
In the broader market, the S&P BSE Mid-Cap index rose 0.15% while the S&P BSE Small-Cap index gained 0.26%.
The market breadth was positive. On the BSE, 1,616 shares rose and 1,159 shares fell. A total of 177 shares were unchanged.