The Indian stock market ended lower on Monday, 5 January, despite positive global cues as investors booked profits in select heavyweights amid increased geopolitical tensions after the US military attacked Venezuela and captured Venezuelan President Nicolas Maduro and his wife.
However, the US attacks on Venezuela did not deal any significant blow to global markets. In Asia, Japan’s Nikkei and Korea’s Kospi jumped over 3% each, while China’s Shanghai Composite rose by over 1%. In Europe, Germany’s DAX rose by over a percent. The UK’s FTSE and France’s CAC 40 were in the green when the Sensex closed.
The Sensex fell 322 points, or 0.38%, to end at 85,439.62, while the Nifty 50 ended at 26,250.30, down 78 points, or 0.30%. The mid and small-cap indices outperformed; the BSE Midcap index inched up by 0.05% and the Smallcap index rose by 0.07%.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market fall?
Market benchmarks ended lower on profit booking in select heavyweights, including HDFC Bank, Infosys, and Reliance Industries, as investors remain cautious ahead of the start of the Q3 earnings season. Moreover, US President Donald Trump’s fresh warning on tariffs against India for buying Russian oil.
According to news agency Reuters, Trump has warned that Washington can raise tariffs on India due to Russian oil purchases.
2. Top gainers in the Nifty 50 index
Nestle India (up 2.76%), BEL (up 2.53%), and Eicher Motors (up 2.17%) ended as the top gainers in the index.
3. Top losers in the Nifty 50 index
HDFC Bank (down 2.31%), Wipro (down 2.23%), and Infosys (down 2.21%) ended as the top losers in the index. As many as 27 stocks ended in the red in the index.
4. Sectoral indices today
Sectoral indices ended mixed, with Nifty Realty rising 2.07% and IT falling 1.43%.
The Consumer Durables index rose 1.12%, while the Oil and Gas index fell 1.02%. Nifty FMCG (up 0.68%), Media (up 0.62%), and Metal (up 0.60%) ended with decent gains.
Nifty Bank fell 0.18% to end at 60,044.20.
5. Most active stocks in terms of volume
Vodafone Idea (100.9 crore shares), Ola Electric Mobility (32 crore shares), and YES Bank (15.3 crore shares) were the most active stocks in terms of volume on the NSE.
6. Eight stocks jump more than 15% on BSE despite stock market weakness
CSB Bank, Naksh Precious Metals, Goyal Aluminiums, and Tourism Finance Corporation of India were among the eight stocks that surged more than 15% on the BSE despite weak stock market sentiment.
7. Advance-decline ratio
Out of 4,471 stocks traded on the BSE, 1,723 advanced, while 2,545 declined. Some 203 stocks remained unchanged.
8. Over 200 stocks hit 52-week highs
Reliance, SBI, Maruti Suzuki India, Mahindra and Mahindra, Larsen and Toubro, and Titan Company were among the 209 stocks that hit their 52-week highs in intraday trade on the BSE.
9. Over 140 stocks hit 52-week lows
Some 144 stocks, including Tata Chemicals, Page Industries, Vedant Fashions, Embassy Developments, Concord Biotech, and Cohance Lifesciences, hit their 52-week lows on the BSE.
10. Nifty’s technical outlook
According to Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, the zone of 26,130-26,100 will act as important support.
“On the upside, the zone of 26,370-26,400 will act as a crucial hurdle. Any sustainable move above 26,400 will lead to further upside up to the 26,550 level,” said Shah.
As per Shrikant Chouhan, the head of equity research at Kotak Securities, 26,150 and 26,100 remain key support zones, and as long as the market is trading above these levels, the bullish sentiment is likely to continue.
“On the higher side, 26,350 and 26,400 are immediate resistance zones for the bulls. However, below 26,100, the uptrend could become vulnerable. The intraday market texture is volatile; hence, level-based trading would be the ideal strategy for day traders,” said Chouhan.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
