Sluggish Indices Close On Negative Note
The Indian markets witnessed trade in a very narrow range in today’s session. At the closing session, investors preferred to reduce their positive position specially in Bankex, Metals and Auto sector. The Nifty closed nominally down by 9 points at 7958 and Sensex was down by 29 points at 26597 in the closing bell.
The advance-decline ratio on NSE was positive, as the day ended with 2187 shares in green and 1448 shares in the red zone.
Top Nifty Gainers: Sun Pharma gained 3.62% in today’s trade, followed by TCS, GAIL, Infosys and Power Grid.
Top Nifty Losers: Jindal Steel closed the day lower by 3.62%, followed by DLF, Kotak Mahindra, Tata Steel and Sesa Sterlite.
The sectoral indices showed a mixed trend in today’s trading session. Most of the profit booking was seen in Bankex, which was down by 161 points. It was followed by Metals and Auto stocks, which were down by around 129 points and 78 points respectively. Oil & Gas, Capital Goods and FMCG also closed in the negative territory. However Health Care was the outperformer of the day, up by 305 points. While Consumer Durables and IT also provided good support and were up around 200 points each. Mid-caps and small-caps also closed in the positive territory.
Most the Asian markets had a negative session on the bourses today and ended the day in the downward territory. The Hang Seng market saw down move by 449 points, while Taiwan and KOSPI also closed on a negative note. However the Nikkei market closed up by 80 points.
Buzzer: Sun Pharma was up by more than 3% on the bourses today and closed up at the technical level around Rs 830. If the stock opens above this level, it may touch Rs 845/860 mark in the next few sessions.
The Nifty Future closed around 8000 level. Going ahead, the level of 7960 will act as a immediate support whereas 8040 will be the resistance level.