Indices faced a severe sell-off as fears of uncertainty around interest rate hikes and soaring inflation weighed on investors’ sentiment. Ahead of the weekend, investors chose to book profit as Nifty plunged 1.94 per cent to close at 17,530 while Sensex tanked 1,094 points.

Indices closed at their day’s low as Nifty plunged 0.70 per cent on the volatile weekly expiry day. Sensex ended below the 60,000 level, tumbling 412 points

Indices witnessed some profit booking in the last half hour as Nifty plunged 80 points from the day’s high. In the end, Nifty tumbled 0.37 per cent and closed at the 18,000 level. 

Going ahead, on Nifty, the level of 18,000 is likely to act as a stiff resistance as the maximum concentration of open interest is seen around this strike on the Call option side with over 73 lakh shares while in today’s session, over 3 lakh shares were added (this data is on a provisional basis). 

Now with the announcement of RBI that digital currency will be launched as a pilot project this year, we bring to you what Pratik Gauri, Co-Founder & CEO has to say on this development:

Indices felt pressure at higher levels but managed to close on a positive note. Nifty closed above 17,800 and climbed 0.169 per cent. Meanwhile, Sensex surged 105 points while Nifty Midcap and Nifty Smallcap inched higher by 0.35 per cent & 0.06 per cent, respectively.  

The company started as a division of Asian Paints in the early 1980s and now has been established as a strong player in the rubber industry. It produces a range of latexes for various residential and industrial sectors like automotive components, heavy engineering, paints, textile, etc.  

Indices witnessed a good rally towards the end as Nifty gained over 100 points to close at 17,800. The benchmark index surged a per cent while Sensex jumped 659 points.

On a fairly volatile day, Nifty managed to close above 17,600 after a gap-down opening, The benchmark index slipped 0.18 per cent while Sensex lost 168 points.

The company works in manufacturing plastic products and advanced piping solutions for various industries. With a market capitalisation of just Rs 190 crore, it is one of the fasting-growing small-cap companies in its industry.