Bears Enter D-Street, Indices Fall More Than 1%
The Indian markets saw some directionless movement till mid-session. However Sensex witnessed sudden fall in all the sectoral indices. Consumer Durables and Auto tumbled more than 350 points each. The major indices like Bankex, Capital Goods and Metals also saw deep dive of more than 200 points. As a result the Nifty hammered badly and closed down by 115 points at 7748 and Sensex was down by 349 points at 25999 in the closing bell.
The advance-decline ratio on NSE was on the negative side, as the day ended with 1094 shares in green and 2575 shares in the red zone.
Top Nifty Gainers: DLF gained 5.15% in today’s trade, followed by NMDC, ITC, BPCL and Coal India.
Top Nifty Losers: UltraTech Cement closed the day lower by 6.06%, followed by Hindalco, Grasim, M&M and Sesa Sterlite.
All the sectoral indices were negative in today’s session. Consumer Durables and Auto tumbled by 405 points and 359 points respectively. Capital Goods, Bankex, Metals & Oil & Gas stocks were down by more than 200 points each. While mid-caps and small-caps stocks closed on a negative note, down around 229 points & 288 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 saw down move by 335 points, while Hang Seng also closed on a negative note by 239 points. Taiwan, KOSPI and Shanghai Index also closed in the negative territory.
Buzzer: Hindalco was down by more than 5.7% on the bourses today and closed up at the technical level around Rs 145. If the stock opens below this level, it may touch Rs 135/125 mark in the next few sessions.
Nifty future closed below the technical level of 7800. If it sustains below this level, we may see more painful scenario.