Et Market Watch: Markets understand, Nifty, Sensex Log 7th Right Loss On Auto, IT & Pharma Print | The Economic Times Podcast

Hello, you listen to Et Markets Radio. I am your host Neha Vashishth, and this is your daily dose of market promotion. Let’s dive into it right away.
It was still a boring day at Dalal Street when the markets clocked their seventh consecutive loss. Both benchmarks slid into a reach-bound trade, weighed by car, IT and pharmaceutical counters.

The Nifty Shut Shop on 24,634, a decrease of 0.08%, while the SENSEX fell 61 points to 80,364. No massive fall, but the losing streak continues.

Yet the market width told a different story. 26 Nifty shares advanced, 23 declined and one remained flat.

With stock -specific action, Wockhardt stole the spotlights with a stunning jump of 15%. Reports suggest that the medicine that Zaynich will see minimal tariff effects in the US thanks to a European production plan, which means that the tide is turned to his advantage, even if the pharmaceutical colleagues leave.

Under the best handy win, Indusind Bank, Titan, Hindalco, SBI and Wipro, while Maruti Suzuki, Axis Bank, Dr. Reddy’s, HDFC Life and Eicher Motors were at the bottom of the table.

On a sectoral front, Nifty Media led the losers with a cut of 0.85%, followed by car and pharma. It also slipped, albeit marginal.

Analysts say from a technical lens that the Nifty has formed a candlestick pattern with a high wave, indicating a possible break in the downward trend. But beware: only a decisive movement above 24,800 can activate a short cover to 25,000. Support is 24,600 and then 24,500.

Asian signals were mixed worldwide. The Japanese Nikkei fell by 0.7%, but hanging seng from Hong Kong rose by almost 2%. Europe was largely in the Green, with the FTSE 100 with 0.7% against the late afternoon India.

In the meantime, the Indian rupid closed on a record layer of 88.76 per dollar, put under pressure through foreign outsourcing and the demand for business dollars. Importers get on hedges and keep the currency under stress.

And in raw materials the crude oil slipped after Kurdistan in Iraq resumed the export and OPEC+ had a different increase in delivery. WTI arranged around $ 64.57, while Brent cooled up to $ 69.07.

That is all ours on the market Watch. Stay informed, because with the monthly F&O expiration date around the corner, the markets can be more volatility this week.