The Indian inventory, commodity and cash markets will stay shut on Wednesday, January 26, 2022, on account of Republic Day. They will resume buying and selling on Thursday, January 27, 2022.
On Tuesday, the home inventory markets snapped out of a five-day dropping streak and staged an intra-day comeback. After plunging to a low of 56,409 at one stage, the S&P BSE Sensex rallied 1,448 factors intra-day to shut with a acquire of 367 factors (0.64 per cent) at 57,858.15 whereas the Nifty 50 rose 129 factors (0.75 per cent) to 17,277.95 on cut price searching.
The rupee declined by 18 paise to shut at 74.78 towards the US greenback.
Commenting on the outlook for Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities mentioned, “The sharp downtrend in the market seems to have halted at the important support and the market is now ready to show upside bounce. A confirmation of bottom reversal as per Tuesday’s low is likely to pull Nifty towards the upper 17,800 levels in the near term. Any dips could find support around 17,100 levels.”