NIFTY50 closes below 21,700, Sensex down 379 points, ICICI Bank and L&T face selling pressure; Stock Market Highlights

Thank you, readers! That's all from Upstox.com's live market coverage on 2 January 2024. We’ll be back with our live coverage at 8:00 am on Wednesday.

The NIFTY Midcap 100 index (-0.1%) closed lower today. The NIFTY Smallcap 100 Index also closed in the red, down 0.2%.

The NIFTY Financial Services (-0.3%) index closed lower today, with Bajaj Finance (+1.8%) and HDFC AMC (+1.4%) being the top gainers and Kotak Mahindra Bank (-2.3%) and ICICI Bank (-1.7%) being the top losers.

The BANK NIFTY (-1.0%) index closed in the red. Weakness in ICICI Bank (-1.7%), Kotak Mahindra Bank (-2.3%) and IndusInd Bank (-1.7%) dragged down the index.

India’s benchmark indices – NIFTY50 (-0.3%) and Sensex (-0.5%) – closed lower. Out of the NIFTY50 universe, 31 stocks are trading in the red. Weakness in ICICI Bank, Kotak Mahindra Bank and L&T dragged down the markets.

Shares of Alok Industries are up 20% and locked in the upper circuit.

This comes after reports claimed that Reliance Industries has bought non-convertible redeemable preferential shares of Alok Industries for 3,300 crore.

• Long build up: Tata Consumer, Dr Reddy, Divis Lab Coal India and ONGC

• Short build up: Eicher Motors, LTIM, Nestle India, Larsen & Toubro and Tata Motors

Q3 Update Year-on-Year

• Loan book up 18% to ₹2,02,475 crore
• Retail-to-Wholesale loan book ratio: 55:45
• Retail credit book expands 20%
• Wholesale credit book rises 17%
• CASA deposits rise 6% to ₹73,388 crore

9 January expiry

• Max call OI (resistance) : 21,500
• Max put OI (support) : 21,300
• Max pain: 21,700
• PCR: 0.8