DSIJ Mindshare

Bears Take Some Charge, Nifty Below 6700 Mark.

The Indian markets extended its profit booking trade till the closing-session. Indices saw no swing of recover in today’s trading session. The main culprits are Capital Goods, IT and Auto.  As a result the Nifty remained in the stress and closed down by 57 points at 6675 and Sensex was 207 points lower at 22277.

The advance-decline ratio on NSE was on the negative side as the day ended with 1341 shares in green and 2036 shares in the red zone.

Top Nifty Gainers: ITC gained 1.5% in today’s trade, followed by Tata Steel, Lupin, Hindalco and InduInd Bank.

Top Nifty Losers: DLF closed the day lower by 4.85%, followed by BHEL, Tata Power, Infosys and LT.

Most of the sectoral indices closed on a negative note. IT and Capital Goods witnessed nosedive move by 300 points and 224 points respectively. Mid-Caps and Small-Caps witnessed some negative trade down by 80 points each. Auto, Bankex, Health Care and Oil & Gas also saw a selling pressure and were down more around 50 points each. Only FMCG and Metals were closed on positive note.

All the major Asian markets closed the day on a positive note. Nikkei closed up by 420 points, whereas Taiwan Index closed up by 7 points. Hang Seng and Shanghai Composite also closed in the positive territory.

Buzzer: Tata Power was down by more than 3.54% on the bourses today and closed near the technical level of Rs 80. If the stock opens below this level, it may touch the Rs 75/72 mark in the next few sessions

Nifty Future closed below the technical level of 6700, which is the negative indicator for further move.

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