Indices Fall With No Respite

The Indian markets witnessed deep dives in today trade. The selling pressure triggered after the Asian market continued with the heavy profit booking session from last couple of days. All the indices closed in the negative territory. Capital Goods, Bankex and Auto were down more than 300 points. As a result the Nifty closed down by 128 points at 8017 and Sensex was down by 431 points at 26775 in the closing bell.

The advance-decline ratio on NSE was on the negative side, as the day ended with 1174 shares in green and 2476 shares in the red zone.

Top Nifty Gainers: HCL Tech gained 1.48% in today’s trade, followed by NTPC, Wipro, Tech Mahindra and HUL.

Top Nifty Losers: DLF closed the day lower by 6.72%, followed by Cipla, Tata Motors, Hindalco and Tata Steel.

All the sectoral indices closed on a negative note. The indices like Bankex, Capital Goods and Auto saw perpendicular fall of more than 300 points each, followed by Oil & Gas, Health Care and Metals, which were down by 250 points each. Mid-caps and small-caps closed on the negative note by 188 points and 279 points respectively.

All the Asian markets had a negative session on the bourses today and ended the day in the downward territory. The Nikkei market closed down by 115 points. The Hang Seng market saw down move by 118 points, while Taiwan and KOSPI also closed on a negative note.    

Buzzer: Hindalco was down by more than 3% on the bourses today and closed down at the technical level around Rs 157. If the stock opens below this level, it may touch Rs 150/140 mark in the next few sessions.

The Nifty Future has given a bearish break down as it closed below 8050 level. If index breaks and sustains below 8000 level, we may see more painful scenario.