Stock recommendations for 21 January from MarketSmith India
Subscribe to enjoy similar stories. Stock market recap: Indian equities reeled under selling pressure for the second consecutive session on Tuesday, 20 January, tracking weak global cues amid trade war risks and unimpressive Q3 earnings. A day after falling by 0.40% each, the Sensex fell over 1,200 points, or 1.5% to an intraday low of 82,010.58 on Tuesday, while the Nifty 50 breached 25,200 on the downside, falling to 25,171.35 in intraday trade.
The Sensex finally closed 1,066 points, or 1.28%, down at 82,180.47, while the Nifty 50 closed at 25,232.50, with a loss of 353 points, or 1.38%. The BSE Midcap index crashed 2.52%, while the Smallcap indices plunged 2.74%. Indian equities closed sharply lower on Monday, with benchmark indices under sustained selling pressure through the session.
The Nifty 50 ended down 1.38% at 25,232.5, breaching key short-term supports after opening weak and sliding steadily to an intraday low near 25,170. The broader tone was decisively bearish, reflected in a poor market breadth where declines overwhelmed advances, with roughly 539 stocks advancing against 2,688 declines, underscoring risk-off sentiment across the board. Sectorally, losses were broad-based, led by realty, consumer durables, IT, healthcare, metals and autos, while financials and FMCG also remained under pressure, offering little downside protection.
Mid- and small-cap segments underperformed, adding to overall weakness. From a technical standpoint, the Nifty 50 witnessed a decisive shift in near-term price structure during today’s session. The index formed a strong bearish candle on the daily chart, reflecting persistent selling pressure throughout the day and confirming a breakdown from the recent consolidation phase.
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