Stock market indices open flat; Sensex down over 24 points, Nifty inches to 18,000-mark

The markets opened on a flat note on January 5. The Sensex was down 24.28 points or 0.04 percent at 59,831.65. The broader Nifty was down 7.00 points or 0.04 percent at 17,798.30. About 1,374 shares have advanced, 843 shares declined, and 96 shares are unchanged. Bank Nifty index was up 0.50 percent.

Among early gainers on the Nifty were Bajaj Finance, Dr Reddy’s Labs, Maruti Suzuki, M&M and Axis Bank. HCL Technologies, Infosys, TCS, Tech Mahindra and Wipro were among losers at the opening bell.

Nifty ended higher for the third consecutive day on January 4 even as traders started returning from holidays. At close Nifty was up 1.02 percent or 179.6 points at 17805.3.

Nifty has shown great strength in its recent upmove. Even with traders beginning to return, the upward momentum has not eased. Now Nifty could face resistance in the 17868-17918 band while 17640 could offer support.

Asian stocks mixed in early trade

Stocks in Asia were mixed Wednesday as investors fret about interest rate increases that dragged down US stocks from a record and as technology stocks in the region came under pressure.

US stocks close at fresh peak

The Dow Jones Industrial Average ended at a fresh peak Tuesday, scoring back-to-back record closes in the first week of 2022, even as the broader market fell under pressure amid newfound selling in government debt that was driving long-term yields higher and interest-rate-sensitive tech shares lower.

The S&P 500’s information technology sector finished 1.1 percent lower Tuesday, while the index’s financials sector rose 2.6 percent.The yield on the 10-year Treasury note rose 3.8 basis points to 1.666 percent-- the highest since October 21.

Higher number of Americans quit jobs

Americans quitting their jobs rose by 370,000 to a record 4.5 million in November. Job openings fell by 529,000 to 10.6 million on the last day of November.

The Institute for Supply Management said its US December manufacturing index dropped to an 11-month low of 58.7 percent compared with 61.1 percent in November.

Global supply chain pressures peak

The global supply chain pressures blamed for disrupting the flow of goods and sparking high inflation may have finally peaked, according to a new gauge from the New York Federal Reserve.

Published on: Wednesday, January 05, 2022, 09:35 AM IST