Choppy Indices Ends On Lower End.

The Indian markets witnessed a choppy trade today, however, it closed on a negative note as traders booked profit before the RBI meeting that is going to be held tomorrow. The major action was seen in Oil & Gas and Metal sectors as stocks like ONGC and Hindalco fell more than 3.5 percent. At the end of today session Nifty closed 32 points down at 8555 and Sensex was 134 points down and closed at 28559.

The advance-decline ratio on NSE was on the negative side as the day ended with 1211 shares in green and 1694 shares in the red zone.

Top Nifty Gainers: Asian Paints gained 7.03% in today’s trade, followed by Hero Motocorp, DLF, IndusInd Bank and HUL.

Top Nifty Losers: NMDC closed the day lower by 3.97%, followed by ONGC, Hindalco, Jindal Steel and BHEL.

Most of the sectoral indices closed on a positive note, Consumer Durables witnessed up move of more than 300 points. This was followed by IT, Auto, Health Care and FMCG that closed in positive territory and were up by around 50 points each. However Metals and Oil & Gas were hammered in today session and were down by 280 points and 240 points respectively. Capital Goods, Mid-Caps and Small-Caps also closed in negative territory.

All the major Asian markets closed the day on a negative note. The Hang Seng index witnessed a huge fall by 620 points, followed by Taiwan and KOSPI closed in negative territory. While Nikkei Index closed in positive note.    

Buzzer: ONGC was down by more than 3% on the bourses today and closed near the technical level of Rs 365. If the stock opens below this level, it may touch the Rs 355/350 mark in the next few sessions.

Nifty Future closed around the technical level of 8600. Going ahead, it’s has a vital support around 8540/8480 levels.