Indices Ends On Negative Note, Bankex Dive

The market witnessed change in current scenario after today’s profit booking session.The banking stocks hit the most and closed down by more than 1%. Followed by Auto, Small Caps, FMCG and Metal stocks. As a result the Nifty index saw down move of 67 points and closed at 8463 and Sensex closed 161 points down from its previous close at 28338 at the end of today’s trade.

The advance-decline ratio on NSE was negative, as the day ended with 1146 shares in green and 2526 shares in the red zone.

Top Nifty Gainers: BHEL gained 3.05% in today’s trade, followed by Zee Entertainment, HUL, ONGC and Dr Reddys Labs.

Top Nifty Losers: ITC closed the day lower by 5.21%, followed by NMDC, DLF, Kotak Mahindra Bank and IDFC.

Most of the sectoral indices saw a big profit booking in today’s trading session. Bankex and Small Caps stocks witnessed heavy amount of selling in today’s trading session down by 277 points and 262 points respectively. Followed by Auto, FMCG and Capital Goods which were also closed in negative territory of around 200 points. While Metals, Mid-Caps and IT also closed in red zone. However Oil & Gas and Health Care closed with positive trade up by 61 points and 33 points respectively.  

The Asian markets closed on mixed note today’s session. The Nikkei market closed on positive mark up by 50 points. While KOSPI and Shanghai Composite closed in positive territory. However Hang Seng closed down by 49 points.    

Buzzer: ITC was down by more than 5.2% on the bourses today and closed above the technical level of Rs 356. If the stock opens below this level, it may touch the Rs 345/332 mark in the next few sessions.

Though Nifty future closed in the red mark, it’s managed to sustain above 8450 level. Indicating that nifty future has some vital support around the lower levels of 8430/8400.