06 Jun , 2022 By : monika singh
Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading flat to negative on Monday. BSE Sensex was down 106 points or 0.2 per cent to 55,662, while the NSE Nifty 50 index fell 0.2 per cent to rule at 16,557. Infosys, Tata Consultancy Services (TCS), Hindustan Unilever, ITC, Tech Mahindra contributed the most to the indices fall, while Reliance Industries, Axis Bank limited the downside. Nifty Bank, Nifty Pharma, and Nifty Healthcare Index were ruling in green, while all the sectoral indices were in red.
The 16460-400 region in Nifty will continue to be a catchment area for dips, and favoured view expects the same to hold for a two stepped uptrend to unfold, aiming 16950 first and 17200 subsequently. Alternatively, a slippage past 16140 will force us to switch sides, though our expectations towards such an outcome next week is low.
Infosys, Tata Consultancy Services (TCS), Hindustan Unilever, ITC, Tech Mahindra contributed the most to the indices fall, while Reliance Industries, Axis Bank limited the downside.
Markets are likely to start the week on a disappointing note as denting sentiments will be the slump in Wall Street’s indices on Friday on the back of stronger-than-expected US Jobs reports, which revived fears of rate hikes by the Federal Reserve. The report fanned fears that America's central bank would need to keep up its hawkish bent for longer, meaning that stiff 50-basis-point interest-rate hikes could continue past the Fed's summer meetings. Also, crude oil prices have skyrocketed to $120 per barrel, which can bring back concerns about the inflation, economy and earnings back on the radar. Technically speaking, the perma-bulls will have to really find reasons to protect the downside if Nifty slips below 16371 mark.
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