Sensex Down By 230 Points, Oil & Gas Tanks

The Indian market witnessed wilt under massive amount of selling pressure in today’s trade. Refineries stocks like Reliance industries and IOC saw a deep cut, down more than 2.5 per cent each. While IT and Banking index also surrounded in profit booking, down by 149 points and 103 points respectively. However, some buying was seen in Small-Caps and FCGC stocks, which ended  on a positive note. The Nifty was hammered and closed around its crucial support level down by 61 points at 8833 while Sensex was down by 230 points at 29231 at the closing bell.

The advance-decline ratio on NSE was on positive side, as the day ended with 1497 shares in green and 1433 shares in the red zone.

Top Nifty Gainers: BHEL closed the day higher by 5.14 per cent, followed by Bank Of Baroda, IndusInd Bank, ITC and Zee Entertainment. 

Top Nifty Losers: Reliance closed the day lower by 3.21 per cent, followed by Tata Power, HCL Tech, ICICI Bank and Bharti Airtel.

The sectoral indices were mixed in today’s session. Oil & Gas stocks were the real culprits to drag the indices on the lower side, and down by 177 points. Banking and IT stocks were also down by more than 100 points. On the other hand, Small-Caps and FMCG stocks closed in positive territory, up by 51 points and 63 points respectively. 

Most of the Asian markets remains closed in today’s trade. The Nikkei market saw up move by 67 points.

Buzzer: Reliance was down by more than 3.21 per cent on the bourses today and closed down at the technical level around Rs 875. If the stock opens below this level, it may touch Rs 360/345 mark in the next few sessions.

Nifty Future closed around its crucial support level of 8850. If it sustain below this level, may see more painful scenario ahead.