Stock market today: The Indian stock market benchmarks, the Sensex and the Nifty 50, ended in the red on Monday, 17 August, as investors continued their sector and stock-specific bets amid stronger-than-expected Q1FY27 earnings and persisting geopolitical risks.
The Sensex closed 281 points, or 0.36%, lower at 77,728.16, while the Nifty 50 settled at 24,287.65, down 78 points, or 0.32%. The mid and small-cap segments outperformed. The Nifty Midcap 100 index climbed by 0.05%, while the Nifty Smallcap 100 index rose by 0.36%.
The advance-decline ratio tilted in favour of decliners, as out of 4,674 stocks traded on the BSE, over 2,350 declined, while nearly 2,100 stocks declined.
In the Nifty index, 31 stocks declined, with HCL Tech, Infosys, Sun Pharma, and TCS losing the most, falling between 2% to 2.6%.
On the other hand, Hindalco, Tata Steel, HDFC Life, ONGC, and Axis Bank ended as the top gainers in the index.
It was the fifth consecutive day of losses for the Nifty. In these five sessions, the index has lost 1.20%. On the other hand, the Sensex extended losses for the second consecutive session, shedding 0.45%.
As many as 175 stocks, including Hindustan Aeronautics (HAL), Bosch, and LG Electronics India, hit their 52-week high, while 120 stocks, including ITC, Procter & Gamble Hygiene and Health Care, KEC International, and Aditya Birla Lifestyle Brands, hit their 52-week lows in intraday trade on the BSE.
“Energy-led input cost pressures continue to influence near-term market sentiment. However, stronger-than-expected Q1FY27 earnings, driven by a combination of pricing actions and volume growth, are likely to support earnings upgrades in the coming quarters,” Vinod Nair, Head of Research, Geojit Investments, observed.
“While the benefit of low-cost inventory aided profitability during the quarter, its sustainability remains a key monitorable, as higher-cost replenishment could constrain margin expansion in Q2FY27. Against this backdrop, investors are increasingly gravitating towards sectors and companies with strong earnings visibility, particularly within the mid- and small-cap segments,” Nair said.
Among the sectoral indices, Nifty IT (down 1.75%) and FMCG (down 1.05%) ended with significant losses. On the other hand, Nifty Realty (up 1.46%) and Metal (up 1.26%) clocked strong gains.
Nifty Bank and Financial Services ended flat.
Nifty 50 technical view
As per Shrikant Chouhan, the head of equity research at Kotak Securities, on daily charts, the Nifty 50 has formed a bearish candle, and after a long time, it closed below the 20-day SMA (simple moving average), which is largely negative.
“For day traders now, 24,400 would act as an immediate resistance zone for the bulls. If the market succeeds in trading above this level, it could bounce back to 24,500-24,620. On the flip side, a break below 24,220 could accelerate selling pressure. Below this, the market could retest the levels of 24,100-24,050,” said Chouhan.
Sudeep Shah, the head of technical and derivatives research at SBI Securities, said that the 50-day EMA zone of 24,200-24,150 is expected to provide immediate support for the index.
“A sustained breach below the 24,150 mark could intensify selling pressure and trigger a further decline towards the 24,000 level. On the upside, the 200-day EMA zone of 24,380-24,400 remains a key resistance area. A decisive and sustained move above 24,400 would strengthen bullish sentiment and could pave the way for an advance towards the 24,550 level in the near term,” said Shah.
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Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
