DSIJ Mindshare

Nifty Below 8000 Mark, Oil & Gas Dive

Indian markets remained side-ways till end of the trading session. Oil & Gas and Auto sector witnessed a deep cut in today’s trade. Mid-caps and small-caps closed in the negative territory, down by 80 points and 20 points respectively. The Nifty closed down by 22 points at 7991 and Sensex was down by 98 points at 26752 in the closing bell.

The advance-decline ratio on NSE was on the negative side, as the day ended with 1645 shares in green and 2019 shares in the red zone.

Top Nifty Gainers: BHEL gained 5.10% in today’s trade, followed by Kotak Mahindra, IndusInd Bank, Bank Of Baroda and Ambuja Cement.

Top Nifty Losers: Jindal Steel closed the day lower by 7.99%, followed by DLF, HUL, Cairn India and Tata Motors.

All the sectoral indices were mixed in today’s session. Oil & Gas and Auto saw some profit booking scenario and was down by 156 points and 142 points respectively. Mid-cap and small-cap stocks were down by 80 points and 19 points respectively. However Consumer Durables and Capital Goods stocks closed on a positive note, up more than 100 points. However Bankex and Health Care closed on a nominally positive note.    

The Asian markets also had a mixed session on the bourses today. The Nikkei market saw up move by 97 points, while KOSPI also closed on a positive note. However the Hang Seng Index closed in the negative territory, down by 158 points.

Buzzer: BHEL was up by more than 5.10% on the bourses today and closed up at the technical level around Rs 250. If the stock opens above this level, it may touch Rs 265/272 mark in the next few sessions.

Nifty future closed below 8000 mark. Going ahead it may take vital supports around 7980 and 7945 levels.

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