This is how analysts read the market pulse:
Global risk appetite weakened after US President Donald Trump announced new tariff threats against eight European countries, reigniting concerns about a possible trade dispute between the US and the EU, said Vinod Nair, head of research at Geojit Investments. He added that this development triggered broad risk aversion in global stock markets, prompting investors to move towards safe havens such as gold.”Meanwhile, select Asian markets, especially China, have shown relative resilience, supported by favorable macro indicators and stronger-than-expected export-led GDP growth. Domestically, sentiment remains cautious amid continued financial outflows. As earnings season progresses into the third quarter, stock-specific volatility is likely, especially where performance has been mixed. Overall, given the combination of global uncertainty and domestic factors, markets are expected to remain in a consolidation zone,” Nair said.
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American markets
US markets were closed on January 19 as the country celebrated Martin Luther King Jr Day.
European markets
In Europe, the STOXX 600 index fell 1.2%. The blue chip indexes in Frankfurt, Paris and London fell 0.4% to 1.7%.
Trump said he would impose additional 10% tariffs on goods imported from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain from February 1, rising to 25% on June 1 if a deal on Greenland is not reached.
Major European Union states condemned the tariff threats as blackmail, and France proposed responding with a series of previously untested economic countermeasures. The EU and Britain had signed trade deals with the US last year.
Technical view
The Nifty remained under bearish control with the index remaining below the 20 EMA throughout the session, said Rupak De, Senior Technical Analyst at LKP Securities. He added that intraday volatility continued and any gains were sold and the RSI continued in a bearish crossover and trended lower as the index closed at a multi-day low.
“Market fear remained high, as evidenced by a spike in India’s VIX. In the near term, the index could fall further, with a potential downside target around 25,200, while resistance is around 25,700,” De said.
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Most active stocks in terms of turnover
HDFC Bank (Rs 3,543 crore), ICICI Bank (Rs 3,202 crore), RIL (Rs 2,886 crore), Eternal (Rs 2,359 crore), Netweb Technologies (Rs 2,260 crore), Jindal Saw (Rs 2,158 crore) and Tech Mahindra (Rs 1,831 crore) were among the most active stocks on BSE in terms of value. Higher activity in a counter in terms of value can help identify the counters with the highest trading turnover per day.
Most active stocks by volume
Vodafone Idea (Shares traded: Rs 56.4 crore), YES Bank (Shares traded: Rs 19.55 crore), Jindal Saw (Shares traded: Rs 12.2 crore), IFCI (Shares traded: Rs 11.2 crore), Punjab National Bank (Shares traded: Rs 8.63 crore), Eternal (Shares traded: Rs 8.36 crore) and Wipro (Shares traded: Rs 6.58 crore) were among volume among the most actively traded stocks on NSE.
Stocks that show buying interest
Shares of Jindal Saw, Welspun Corp, JSW Infrastructure, CG Power and Industrial Solutions, ABB Power, InterGlobe Aviation and Polycab India were among the stocks that witnessed strong buying interest from market participants.
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52 Week High
More than 97 stocks hit their 52-week highs today, while 438 stocks fell to their 52-week lows. Axis Bank and Bank of India were among those that hit 52-week highs.
Stocks see selling pressure
Stocks that witnessed significant selling pressure were Wipro, RBL Bank, IDBI Bank, MRPL, HBL Power, Reliance Infrastructure and Jubilant Pharmova.
Sentiment gauge bearish
Market sentiment was bearish. Of the 4,483 shares traded on the BSE on Monday, 3,075 shares saw a decline, 1,226 rose, while 182 shares remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times)
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