Market Commentary

Daily Markets Wrap - Jan 4, 2022 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities



Posted On : 2022-01-04 17:18:27( TIMEZONE : IST )

Daily Markets Wrap - Jan 4, 2022 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty ended higher for the third consecutive session on Jan 04 even as traders started returning from holidays. Nifty remained in a range till 1345 Hrs post which it rose and closed at near the intra day high. At close Nifty was up 1.02% or 179.6 points at 17805.3.

On a day when the volumes on the Nifty was above the recent average, Power, Oil & Gas and Bank indices rose the most while Healthcare and Metal indices lost the most. BSE Smallcap index rose 0.39%, while Midcap index rose 0.05%, both underperforming the Nifty.

World shares extended on Tuesday their positive start to 2022 with markets from Europe to Asia shrugging off worries the Omicron coronavirus variant could choke the global economic recovery.

Nifty has shown great strength in its recent upmove. Even with traders beginning to return, the upward momentum has not eased. Now Nifty could face resistance in the 17868-17918 band while 17640 could offer support.

Source : Equity Bulls

Keywords

DailyMarketsWrap Nifty HDFCSecurities