Bankex Drags Indices On The Lower Side

Markets witnessed another profit booking session on last day of July series expiry session. Selling in the banking sector is followed by massive selling in Capital Goods, Auto and IT counters. As a result the 50 share Nifty index closed negative by 70 points at 7721 and the Sensex ended the day at 25894, down by 192 points.

The advance-decline ratio on NSE was on the negative side as the day ended with 1746 shares in green and 1845 shares in the red zone.

Top Nifty Gainers: Cipla gained 1.85% in today’s trade, followed by Tata Steel, BPCL, Lupin and GAIL.

Top Nifty Losers: NTPC closed the day lower by 3.17%, followed by HCL Tech, IDFC, Axis Bank and Asian Paints.

Most of the sectoral indices closed on a negative note. Banking witnessed perpendicular fall by 208 points. Capital Goods and Auto also witnessed negative trade down by 100 each. While mid-caps and Small-Caps closed on the positive note.

All the major Asian markets closed the day on a mixed note. Hang Seng closed up by 24 points, whereas Nikkei index closed down by 25 points. KOSPI and Taiwan also closed in the negative territory. 

Buzzer: NTPC was down by more than 3% on the bourses today and closed near the technical level of Rs 150. If the stock opens below this level, it may touch the Rs 135/120 mark in the next few sessions.

Nifty Future July expiry closed above the technical level of 7700. Indicating major support around this level for further trade.