Markets Wrap – Mon, 16 Jan ‘23: Stocks plunge, rupee falls; Asia, Europe markets, Gold, Crude, Crypto updates

2022-12-17

Domestic indices concluded in red on Monday. The NSE Nifty 50 closed below 17,900 and the BSE Sensex after moving in the range of 59,963.83 and 60,586.77 settled above 60,000. The top gainers of the BSE Sensex were Tech Mahindra (up 3.22%), HCL Tech (up 1.48%), Infosys (up 1.45%), Wipro (up 1.27%) and TCS (up 1.06%) while Axis Bank (down 2.26%), NTPC (down 1.16%), HDFC (down 1.03%), HDFC Bank (down 0.97%) and Mahindra & Mahindra (down 0.97%) were the losers. “Nifty failed to sustain above 18000 and slipped lower before closing around 17900. A ‘dark cloud cover’ like pattern has formed on the daily chart, suggesting a near-term weakness. Support on the lower end is visible at 17850/17750. Below 17,750, Nifty may witness a meaningful correction. On the higher end, resistance is visible at 18000–18100,” said Rupak De, Senior Technical Analyst at LKP Securities.

Asian Markets

Asian markets concluded Monday’s session on a mixed note. China’s Shanghai Composite index ended 32.29 pts or 1.01% higher at 3,227.59 on Monday. Hong Kong’s Hang Seng climbed 8.06 pts or 0.04% to 21,746.72 while Japan’s Nikkei 225 fell 297.20 or 1.14% to 25,822.32.

European Markets

England’s FTSE100 was trading at 7,852.20, up 7.96 points or 0.10% at 2:55 PM (IST). Europe’s Euronext100 was down 1.65 points or 0.12% at 1,325.25. France’s CAC was trading 5.35 points or 0.08% lower at 7,018.15. Germany’s DAX was up 15 points or 0.10% at 15,100.98.

US Markets

The US stock indices concluded Friday’s session in green. The Dow Jones Industrial Average (DJIA) rose 112.64 pts or 0.33% to 34,302.61, the tech-heavy Nasdaq climbed 78.05 pts or 0.71% to 11,079.16 and S&P 500 advanced 15.92 pts or 0.40% to 3,999.09.

Rupee movement

The Indian rupee depreciated 0.44% to 81.69 against the US dollar at 3:00 PM (IST).

Gold, Silver

Gold futures on the multi-commodity exchange for February delivery were trading at 56474.00 up 150 points or 0.27%. Silver futures for March delivery were up 321 points or 0.46% at 69748.00 at 3:05 PM (IST).

Crude oil

WTI Crude futures for February delivery were down 0.51% at $79.45 while Brent Crude futures for March delivery were trading 0.61% lower at $84.76 at 3:05 PM (IST).

Cryptocurrency

Bitcoin (BTC) at 3:05 PM (IST) was trading at $20,827.82, up by 0.80% in the last 24 hours. Its total market cap is $401,380,258,103. Ethereum (ETH) was trading at $1,543.77, up by 1.22% in the last 24 hours. It has a total market cap of $188,898,136,512.

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