21 Feb , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading 1% down on Monday, on weak global cues. BSE Sensex was hovering around 57300, while Nifty 50 index gave up 17150 level. Index heavyweights such as Reliance Industries Ltd, HDFC Bank, Housing Development Finance Corporation, Infosys, and ICICI Bank, among others contributed the most to indices fall. On the flip side, Dr Redyy’s Laboratories, NTPC, Power Grid Corporation of India, Tata Consultancy Services (TCS), and IndusInd Bank were top Sensex gainers. All the Nifty sectoral indices were trading in the deep sea of red. Bank Nifty was down nearly 1%, Nifty IT lost 0.7%, while Nifty FMCG index declined 1.04%.
Bank Nifty support at 36500-36800
For Bank Nifty, 36800-36500 should be considered as supports and on the higher side, 38000 followed by 38500 are the levels to watch out for. Till the time there is no clarity on the global front, expect key indices to remain in this range with higher volatility
16800-17000 crucial levels to watch out for in Nifty
Overall sentiments have completely dampened due to the geopolitical concerned with respect to Russia-Ukraine. Market participants are a bit cautious and hence we are seeing some nervousness to start the new week. As far as level are concerned, 17000 – 16800 are to be seen as make or break levels; whereas on the flipside , 17400-17500 has become a sturdy wall.
What's dragging market lower today?
Ukraine and Russia have been locked in a tense border stand-off for weeks. This crisis has added to the market concerns on high inflation and central banks' withdrawal of the easy monetary policy. Another factor that is driving the market now is the possibility of an interest rate hike and tighter fiscal policy in near future . All the volatility inducing factors are very much present and will continuously effect the market in near term. Nifty and Bank Nifty may touch the levels of 16800 and 36500 respectively in next sessions. We may see some lower level buying at those levels.
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