Business

Markets rangebound! Nifty closes around 22,350, Sensex below 73,700 dragged by smallcap and IT stocks

The benchmark equity indices Nifty 50 and Sensex ended Tuesday’s trading session in negative territory. The Nifty 50 closed nearly 50 points lower to settle at 22,356.30 points. While S&P BSE Sensex closed almost 200 points lower to settle at 73,677.13 points. On the flip side, Nifty Bank clocked gains of 0.26% or 124.90 points to settle at 47,581.00.

On the sectoral front, IT and media stocks lost the most amongst their peers. The broader indices ended in the red, with smallcap and midcap stocks losing the most. The Nifty Midcap 100 closed 134 points or 0.27% lower to close the day’s trading at 49,114.90. 

The losers include Bajaj Finserv, Bajaj Finance, Nestle India, Infosys, and SBI Life Insurance. The Indian Volatility Index (India VIX) closed 3.62% lower. 

BrandWagon Explainer: Direct-to-Consumer (D2C) model – What it is and why it matters Markets flat! Nifty ends below 24,150, Sensex holds 79,000 mark; Mining stocks see sharp cut on August 14 Railway stocks IRFC,RVNL, IRCON surge 3-9% after Cabinet nod for 8 new railway projects worth Rs 24,657 crore Bloodbath on D-Street amid global sell-off! Nifty tests 24,000, Sensex falls 2,222 points

The Nifty opened on a flat note and drifted lower during the first hour of the trading session, said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.

On the daily charts, observations are that the index is in the process of retesting the breakout of 22300 it gave during last week. 

“The hourly moving averages placed in the range 22369 – 22264 shall act as a crucial support zone and until the Nifty manages to hold on to this zone we can expect a next leg of upmove to resume,” said Gedia.

“The initial target and immediate hurdle is placed at 22460 – 22530. The hourly momentum indicator has a negative crossover however has reached the equilibrium line indicating that the fall may have matured and once this consolidation has completed the upmove is likely to resume,” said Gedia.

While commenting on Nifty Bank, Gedia said, the sectoral index has been outperforming the benchmark index and expectations are that the phenomenon is likely to continue until support from NIFTY IT kicks in. In terms of levels for Bank Nifty, 47350 – 47300 is the crucial support zone while 48000 – 48200 is the immediate hurdle.

Related Posts

Learn about making audio adventures for the Amazon Echo today at 3PM EST

After the holiday rush, you may be one of the millions of people yelling at the new Amazon Echo device in their home, asking it for the weather, news, music, etc. But what if you could play games on your Amazon Echo? What if you could MAKE games for the Amazon Echo?  Come from South African Online Casinos

It turns out that Schell Games’ Michael Lee and audio designer Bonnie Bogovich have already set out down this path, and at GDC 2017, they’ll be presenting a talk on making their Amazon Echo game Baker Street Experience. But because we’re too impatient to wait for GDC, we’ll be interviewing them about thei…

Nintendo Switch online service delayed until 2018

The Nintendo Switch's premium online service won't be arriving this autumn as originally planned, with Nintendo choosing to delay the launch until 2018.

Nintendo broke the news on its official website, but didn't explain why the launch date was being pushed back. 

The service, simply called 'Nintendo Switch Online' at this point, will let players organize and play online multiplayer matches while voice chatting with their friends using a smartphone app. 

A free, trial version of the app will be made available this summer, and will also let players invite friends to play online and set play appointments. 

Beyond that, Switch Online subscribers will get …

Nintendo Switch And Retro Console Graphics Upscaler Gets Limited-Time Deal At Amazon

Nintendo Switch owners and retro gamers can save on the mClassic Graphics Upscaler at Amazon for a limited time. Amazon has brought back its Cyber Monday deal on this very cool gaming accessory, dropping the price from $100 down to $85.

On the side of the dongle, you’ll find a switch that lets you toggle the enhancements on and off. There’s also a mode designed for retro consoles built to display in a 4:3 aspect ratio (like “square” CRT TVs). Depending on the retro game you’re playing, you’ll probably want to turn this mode on instead of using the default widescreen setting that stretches the image. The mClassic still …

New Karate Kid Film Gets Legendary Title And Official Poster

Last November, Karate Kid star Ralph Macchio and martial arts icon Jackie Chan–who starred in the 2010 remake–announced a new entry in the Karate Kid saga. The film, officially called Karate Kid Legends, will be directed by Johnathan Entwistle, best known for his work on TV with I’m Not Okay With This and The End of the F***ing World, with a screenplay by Rob Lieber. Come from online casino bangladesh

The film will be the sixth installment in the Karate Kid franchise after three with Macchio as Daniel Larusso, which were followed by The Next Karate Kid with Hillary Swank and a remake. The remake starred Jaden Smith as the Daniel analog, Dre, and Chan in the Mr. Miyagi role, Mr. Han.

The Karate Kid official …

Alone In The Dark Dev Talks Edward's Mustache And Why You Need To Play The Game Twice

The upcoming reimagining of Alone in the Dark that releases next week brings back series protagonist Edward–played by David Harbour–but in the new game, he doesn’t have a mustache. What gives? Creative director Pikael Hedberg of developer Pieces Interactive has explained why the studio chose to depict Edward as clean-shaven. The studio also discussed how players will need to play the game twice to get the full story.

In a FAQ, Hedberg said Edwards in the new Alone in the Dark is “pretty close” to who he is in the original series, but without his glorious mustache Come from online casino bangladesh . He said the “magnificent mustache” from earlier games made sense when Edward was just beginning his career as a priv…

Alan Wake Remastered Secrets Guide – New Hidden QR Codes Hint At Alan Wake 2

Warning! This article contains discussion of some secrets and story threads in Alan Wake Remastered. If you’d rather find them yourself, stop reading now and return after you’ve completed the game.

With the release of the AWE DLC expansion for Control, Remedy Entertainment definitively placed its 2010 psychological thriller Alan Wake in the same universe as the 2019 paranormal action game. AWE gave us a sense of some of the things that had happened to characters from Alan Wake in the interim, including Alan himself, and suggested that something new was happening in the Alan Wake setting of Bright Falls in 2022. With Alan Wake Remastered, we get new hints that the events hinted back in AWE are on the horizon.