Geojit Financial Services. For the week, Sensex slipped by 0.10 per cent while the Nifty declined by 0.23 per cent. On the other hand, the BSE Midcap index rose 1.50 per cent while the Smallcap index jumped 2.19 per cent for the week.
Investors now await Federal Reserve Chair Powell's speech at an annual gathering of global central bankers, due later on Friday, for cues into the US central bank's rate trajectory. Top gainers: Bajaj Finserv (2.365), Bajaj Finance (1.04%), Asian Paints (1.04%), Bharti Airtel (0.415), and Titan (0.225) Top losers: IndusInd Bank (-1.89%), JSW Steel (-1.88%), Larsen & Toubro (-1.79%), UltraTech Cement (-1.72%), and Jio Financial Services (-1.69%) Top gainers: Jio Financial Services (3.82%), Bajaj Finserv (2.41%), Asian Paints (0.94%), Bajaj Finance (0.67%), and Oil and Natural Gas Corporation (ONGC) (0.66%) Top losers: Larsen & Toubro (-2.09%), Dr Reddy's Laboratories (-2.07%), JSW Steel (-2.02%), Adani Ports (-1.99%), and Adani Enterprises (-1.95%) Nifty has breached the crucial support of short term moving average i.e. 50 EMA on Friday, which indicates the tone to remain negative.
‘’We are eyeing 19,100 as the next support. However, a mixed trend on the sectoral front would continue to offer trading opportunities on both sides so plan your trades accordingly,'' said Ajit Mishra, SVP - Technical Research, Religare Broking Ltd. Analysts at domestic brokerage house Anand Rathi said that even if the market corrects in the near-term, equity return over the next 12 months is likely to remain healthy.
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