Nifty futures lost 0.57% to close at 15,119. Among specific stocks, Bank of Baroda, ONGC, Torrent Power, L&T Finance, BPCL, HPCL, NTPC, Coal India, TechM, CONCOR, LIC Housing Finance NSE 1.79%, Hindalco and BEL saw a spurt in trade setup but in DLF NSE Weak -2.75%, Apollo Tire, Bajaj Finance, M&M, Balakrishna Industries, Nestle India, HDFC Bank, Titan, Colgate Palmolive and UBL.
The Nifty opened the flat on Thursday and then showed the same weakness as it had seen in the last three sessions. The index failed to cross the 15,250 level and moved towards the 15,080 level. It remained negative to the extent for most of the session and closed the day with a loss of about 90 points.
The index constituted a bearish candle on the daily scale and continued to create highs and lows for the second consecutive season. Now it will have to cross the 15,150 level to achieve stability and see a surge towards the 15,400–15,500 zone, while the major support downstream can be seen around the 15,000 and 14,900 levels.
Bank Nifty opened positive, but failed to keep above 37,000 level and moved towards 36,350. The rate-sensitive index widened losses as underperformance. It settled the day with a loss of around 300 points. The index formed a bearish candle on the daily scale and in the process formed a Doji with a long upper shadow on the weekly scale.
It continued to build lower elevations and lows over the last two seasons.
Now, it has risen to the level of 37,000 and then to 37,350 after crossing the 36,500 level, while the 36,250 and 36,000 levels were seen.
Most stocks in Asia were low on Thursday after a mixed session on Wall Street, as losses from technology and industrial companies led to other gains.
Shanghai saw modest gains after reopening after the Lunar New Year holiday. Shares fell in Tokyo, Hong Kong and Sydney.
The Shanghai Composite Index rose 0.4% to 3,669.42 and the S&P / ASX 200 rose 0.1% to 6,893.10. Japan’s Nikkei 225 lost 0.2% to 30,230.63, while Hang Seng in Hong Kong was down 1.2% to 30,723.83. In South Korea, Kospi gave a discount of 1.2% to 3,097.20.
US benchmark crude oil rose 59 cents to $ 61.73 per barrel on the New York Mercantile Exchange. On Wednesday, it rose to $ 61.14 per barrel from $ 1.09. Internationally, Brent crude climbed 80 cents to $ 65.14 a barrel.