Bearish Turn: Indian Equity Markets Dip, Ending Recent Five-Day Winning Run

Ira Singh
Khabar Khabaron Ki,16 Jan’24

The domestic equity market indices snapped five-day winning streak to end on a negative note on Tuesday. indices Sensex and Nifty took a breather on Tuesday. All eyes will also be on results of banking major HDFC Bank. Apart from this, the Street will witness the first listing of 2024.At close, the Sensex was down 199.17 points or 0.27 percent at 73,128.77, and the Nifty was down 65.15 points or 0.29 percent at 22,032.30.

Stocks and Sectors
BPCL, Tata Steel, Titan Company, ITC and Maruti Suzuki were the top gainers on the Nifty, while losers included Divis Laboratories, HCL Technologies, Wipro, NTPC and SBI Life Insurance.

On the sectoral front,metal and oil & gas indices gained nearly 1 percent each, while power, realty, healthcare and Information Technology down 0.5-1.5 percent each.BSE Midcap and Smallcap indices lost 0.3 percent each.

On 16 Jan’24,the Indian rupee falls 21 paise to close at 83.07 against US dollar on Tuesday, tracking a strong American currency against major overseas rivals and subdued equity market sentiment.Some inflow of foreign funds supported the Indian currency which was weighed down due to volatile crude oil prices, forex traders said.

Experts Take:
Market experts have recommended six stocks to buy for Tuesday- Shriram Finance, SJVN, Jindal Steel & Power, Dabur, Mazagon Dock Shipbuilders and JK Paper.