latest stock market update

Sensex ends lower, Nifty snaps 9150; HDFC Bank gains on strong Q4

Benchmark indices NSE Nifty closed at 9119 levels, down by 17 points or 0.1%, whereas the BSE Sensex closed at 29,365 levels, down by 47 points or 0.1%. Markets reversed their opening gains to close in red. While, BSE Mid-cap Index closed up 0.4% at 14546 whereas, BSE Small-cap Index closed up 0.4% at 15240. There were 820 advances, 852 declines and 284 unchanged stocks on NSE, reflecting bearish undertone floating in the market. Bharti Infratel was the top Nifty gainer whereas, Sun Pharma was the top Nifty loser.

Expert Views For Market Next Week

The Nifty, which started on a positive note, pared gains and turned negative in afternoon trade as bears tried to take control of D-Street from the bulls on Friday. The only positive takeaway from the trading session is that the index did not close around its day’s low, which suggests buying interest at lower levels.A bearish candle is formed when the closing level is less than the opening level. The Nifty opened at 9,179.10 and rose to an intraday high of 9,183.65 but bears pulled the index lower towards 9,088 which was Friday’s intraday low.
The Nifty closed in red in 4 out of 5 trading sessions this week which suggests consolidation and it looks like the index is gearing up for a big move.

The bias still remains on the upside as the index closed above its crucial resistance level of 9,100; however, if it closes below 9,000 next week, the bias might shift towards the downside, suggests experts.