Nifty last close: 17706.85 (-0.7%)
The Indian equity market snapped a nine-day winning streak on April 17
Following a rout in information technology (IT) stocks
Nifty was opened gap down and fell to 17574 then shot up to 17700
Sensex was down 520.25 points, or 0.86 percent, at 59,910.75
Nifty was down 121.20 points, or 0.68 percent, at 17,706.80
Infy was down around 10% and contributed almost 140 points to drag the Nifty
IT index fell 4.7 percent and the pharma index 0.6 percent
PSU Bank index was up 3%. Oil & gas, realty and FMCG indices rose a percent each
Midcap index added 0.5%, while the smallcap index was up 0.15%
VIX ended 12.30
Cement demand seen rising 8-9% in FY24 over 9% growth in FY23
WPI inflation drops to 1.34% in March, Lowest level in 29 months
Brent crude drops 2% on higher dollar and settled around $84.5/bbl
Dollar index ended 101.83
Gold slides below $2000 and settled $1995/oz
FIIs net sold 533 crore while DIIS net bought 270 crore
US markets ended higher on Monday
Dow was up 0.3%, Nasdaq added 0.28% and S&P500 gained 0.33%
Alphabet down 2% as Samsung considered switching default search engine to Bing
US 10-year rises to 3.59 fron 3.5
China Q1 GDP growth at 4.5% comes in ahead of estimates : Positive News
Asian markets mixed in early trade
Hangseng down 0.7% and Nikkei rises 0.5%
SGXNifty indicates negative opening for the index
Nifty is facing a intraday resistance 17735, 17760 and 17790
If stays above 17790 will try to check 17840
On other side, Nifty can be considered as supports as 17650 and 17625
Below 17625 finding a next support 17575 which was yesterday’s low
Updated: 08.40 am / 18th April 2023
