Nifty last close: 24198.85 (-0.56%)
The bears have further tightened their grip on the Indian stock market
Benchmark indices extended the losing streak for the third consecutive session on December 18
Sensex was down 502.25 points or 0.62 percent at 80,182.20
Nifty was down 137.15 points or 0.56 percent at 24,198.85
On the sectoral front, except pharma up 1 percent
All other indices ended in the red with auto, energy, PSU Bank, metal, media, realty down 0.5-2%
FIIs has extended their selling on third day as they sold equities worth Rs 1,316 crore on December 18
while domestic institutional investors extended their buying as they bought equities worth Rs 4,084 crore
US stocks plunged on Wednesday, with all three major indexes posting their biggest daily decline in months
Federal Reserve cut interest rates by a quarter of a percentage point
The Fed cut rates by 25 basis points to the 4.25%-4.50% range
Inflation is “much closer” to 2% Fed target
Activity in the housing market has been weak
Wage growth in the United States has eased
Labor market is not a source of inflation pressures
Fed can be more cautious in reducing interest rates
Inflation expectations remains “well anchored”
Dow Jones Industrial Average fell 1,123.03 points, or 2.58%
S&P 500 lost 178.45 points, or 2.95%
Nasdaq Composite lost 716.37 points, or 3.56%
The US 10-Year Treasury declined 27 basis points to 4.50 percent
Dollar index spiked to 108
Asian markets were set to lower opening
Nikkei down 1% and Hangseng down 1.25%
GiftNifty indicates a gap down opening for the index
Nifty is facing a intraday resistance 24230 and 24300
If stays above 24300 will try to move 24420
Stay caution at higher levels
On other side, Nifty considering a supports 24130 and 24030
Below 24030 finding a next support around 23900 and 23770
Updated: 09.02 am / 19th Dec 2024
