- Sensex and Nifty are looking down as expected due to fall in SGX Nifty on Singapore Exchange.
- Rising stocks include Hindalco, Airtel, UPL and Sun Pharma.
- BSE Sensex closed 367 points higher at 60,223 while Nifty closed 120 points higher at 17,925.
Amid a mixed trend in Asian markets, trading on the weekly F&O expiry day today (January 6) has made a weak start in the domestic market. Sensex and Nifty are looking down as expected due to a fall in SGX Nifty on Singapore Exchange. Sensex has broken more than 800 points in early trade, while Nifty has also come down below 17700. In today’s trading, the focus will be on stocks like Reliance, Vodafone Idea, Airtel, NHPC, GAIL India, NTPC and Adani Enterprises.
Nifty is trading at 17,686 with a fall of 233 points in the National Stock Exchange. It was opened at 17,768. It made a high of 17,797 and a low of 17,671 during the day. Out of its 50 stocks, 43 are trading in decline and 7 in gains. The next 50 indices in Nifty Midcap, Banking and Financial are in decline.
“Incoming labour market data continues to be strong in jobless claims, recruitment surveys and consumer measures. We believe it is too early to see the impact of the Omicron version,” Nomura said in a note.
CLSA, while giving its opinion on telecom, has said that this year will keep an eye on the 5G spectrum auction and the possible IPO of Jio. Bharti Airtel, however, will continue to be our top pick in telecom and is expected to outperform this company. Besides, there is a possibility of a 20% tariff hike between H2FY22 to FY24.
Major Nifty losers are HDFC, HCL Tech, HDFC Bank, Tech Mahindra and Eicher Motors. Rising stocks include Hindalco, Airtel, UPL and Sun Pharma. Earlier yesterday, there was an increase in the market for the fourth consecutive day. Bombay Stock Exchange (BSE) Sensex closed 367 points higher at 60,223 while Nifty closed 120 points higher at 17,925. Sensex has also gained 2400 points in four days.