Investor Concerns: Sensex Falls 260 Points, Nifty Below 21,600;All Eyes on ICICI Bank Q3 Results

Ira Singh
Khabar Khabaron Ki,20 Jan’24

The domestic equity market indices started off on a firm note in special Saturday’s trading session, led by buying action in banks and auto stocks along with firm cues from global markets. D-Street investors reacted to a clutch of key earnings that came in last evening, including by Mukesh Ambani-led Reliance Industries and FMCG major HUL. Today, all eyes are on ICICI Bank and Kotak Bank as they gear up to post their numbers.At close, the Sensex was down 259.58 points or 0.36 percent at 71,423.65, and the Nifty was down 50.60 points or 0.23 percent at 21,571.80 About 1971 shares advanced, 1706 shares declined, and 87 shares unchanged.

Stocks and Sectors

Coal India, Adani Ports, Adani Enterprises, Kotak Mahindra Bank and ICICI Bank were top gainers on the Nifty, while losers included HUL, M&M, TCS, IndusInd Bank and HCL Technologies.

On the sectoral front, bank, metal, power indices up 0.5-1 percent, while FMCG, Information Technology, pharma and realty down 0.4-1 percent.BSE Midcap and Smallcap indices gained 0.4 percent each.

On 20 Jan’24,the Indian rupee gained 7 paise to settle at 83.06 against the US dollar tracking robust buying in domestic equity markets and weak American currency overseas.However, strengthening crude oil prices and foreign capital outflows capped the sharp gain in the domestic currency, forex traders said.

Experts Take:
Market experts have recommended six stocks to buy for Saturday- GAIL, Tata Steel, INOX Green, Exide Industries, TD Power, and CEAT

The stock market will remain closed on January 22, according to exchange circulars issued late Friday.