Daily Markets Wrap - Jan 20, 2023 - HDFC Securities

Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Nifty ended lower for the second consecutive session on Jan 20 even as most other markets were either up or stable. Disappointing Q3 numbers and a few underwhelming announcements accompanying the results dented sentiments in India. At close Nifty was down 0.44% or 80.2 points at 18027.7. Broad market indices fell a little more than the Nifty even as the advance decline ratio was down at 0.67:1. Most global indices were up on Friday as optimistic investors gauged the potential impact of a week-long Lunar New Year holidays after China lifted its COVID-19 curbs, even as concerns over global economic slowdown continued to sap sentiment. Nifty closed the week 0.4% higher. It formed a sideways doji for the week (though making slightly higher top higher bottom compared to the previous week) after a similar doji in the previous week suggesting a tight fight between bulls and bears. 18184-17774 is the broad range for the Nifty, a breakout of which could decide the direction in the near term.

Source : Equity Bulls

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DailyMarketsWrap HDFCSecurities Nifty Sensex