Sensex Ends 6-Day Record Streak
Domestic market benchmarks the Sensex and the Nifty snapped their six-day winning streak on strong losses in index heavyweights including Infosys, Reliance Industries, TCS and Hindustan Unilever (HUL) on Friday (July 21). Following weak global cues, Sensex saw a gap-down opening. index finally closed with a loss of 888 points, or 1.31 per cent, at 66,684.26 while the Nifty Future ended with a loss of 193.90 points, or 1.17 per cent, at 19,776.
Mid and small-caps substantially outperformed the benchmark index. The BSE Midcap index closed 0.26% lower while the Smallcap index closed with a gain of 0.13%. The BSE Smallcap index hit its fresh all-time high of 34,198.82 during the session. The overall market capitalisation of firms listed on BSE dropped to about Rs. 302.1 lakh crore from nearly Rs. 304 lakh crore, making investors poorer by nearly Rs. 1.9 lakh crore in a single session.
FII and FPIs, on Friday, saw a net sold of Rs. 1998.77 crore in the cash segment. A total of Rs. 12019.17 crore was sold against a total purchase of Rs. 10020.40 crore. Domestic institutional investors saw a net purchase of Rs. 1290.73 crore in the cash segment. A total of Rs. 9241.75 crore was sold against a total purchase of Rs. 10532.48 crore.
Technically, the important key resistances placed in July Nifty future are at 19776 levels, which could offer for the market on the higher side. Sustainability above this zone would signal opens the door for a directional up move with immediate resistances seen at 19838 - 19880 levels. Immediate support is placed at 19707 - 19676 levels.
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