Nifty Below 8400 Mark, Metals Dive
After a long consolidation phase, the Indian markets witnessed selling pressure in today’s trade. Most of the profit booking was seen in Metals, Bankex, Auto and Oil & Gas segment. Mid-caps and small-caps also closed in the negative territory. At the end of today’s session, Nifty slipped by 43 points at 8382 and Sensex was 130 points lower at 28032.
The advance-decline ratio on NSE was on the negative side as the day ended with 1589 shares in green and 2140 shares in the red zone.
Top Nifty Gainers: Dr Reddys Labs gained 2.62% in today’s trade, followed by HCL Tech, DLF, Zee Entertainment and Tech Mahindra.
Top Nifty Losers: Tata Steel closed the day lower by 3.17%, followed by Jindal Steel, Cairn India, GAIL and Sesa Sterlite.
Most of the sectoral indices closed on a negative note. Metals were hammered the most in today’s trade, down by 244 points. Bankex, Auto and Oil & Gas were also down by more than 100 points each. Mid-caps and small-caps also closed on a negative note, down by 64 points and 74 points respectively. However IT and Health Care provided some support to the indices.
All the major Asian markets closed the day on a mixed note. Nikkei closed down by 55 points, whereas Hang Seng Index closed down by 155 points. KOSPI and Shanghai Composite also closed in the negative territory. However Strait Times and Taiwan ended on a positive mark, up by 20 points and 104 points respectively.
Buzzer: DLF was up by more than 1.77% on the bourses today and closed near the technical level of Rs 140. If the stock opens above this level, it may touch the Rs 145/150 mark in the next few sessions.
Nifty Future made low at 8386 level and closed above 8400 mark. For further move, immediate support levels will be around 8360 and 8320.