Market LIVE Updates: Indices Trade Flat Amid Volatility; Oil & Gas, Pharma Drag, Auto Stocks Gain

Furthermore, the index has given closing below 21 DMA as well as the stochastic indicator is trading negative crossover.

Markets witnessed selling pressure at higher levels as investors seem to be trimming their holdings in stocks that had risen sharply in recent upsurge.

An intraday bounce faced resistance near the key hourly moving averages & the 20 DMA.

Going ahead, the junction of 40 DEMA & the swing low on the daily chart, which is near 17800 will be the key support to watch out for.

The first half was dull as the benchmark hovered in a narrow range however profit taking in the final hours pushed the index in red.

Amongst the sectors, oil & gas, banking and realty were the top losers wherein auto continued to rally for the second straight day.

Robust US retail sales data failed to inspire global markets as domestic indices were seen trading with a negative bias to close deep in the red.

The surge in fresh covid cases is keeping global investors on the edge fanning fears of an economic slowdown.

UPL, Reliance Industries, Axis Bank, Britannia Industries and IOC were among the major Nifty losers.

The realty, oil & gas, pharma indices lost 1 percent each, while selling was also seen in the metal, capital goods, and banking names.

Nucleus Software has announced the postal ballot results of their proposed buyback of 22,67,400 equity shares, for an aggregate amount not exceeding Rs 159 crore.

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