Indices Struggles, Sensex Hover Around 29000 Mark.

The Indian stock markets were struggling for a breakout till mid-session. However Indices like Bankex and Healthcare continued with the profit booking trade, and down by more than 150 points each.  It also dragged the sensex on the lower side. Metals, Mid-Caps and Small-Caps were also closed in negative territory. The Nifty index closed with the marginal gain, up by 5 points at 8767 level, while Sensex was up by 3 points at 29007 level at the closing bell.

The advance-decline ratio on NSE was a negative side, as the day ended with 1228 shares in green and 1663 shares in the red zone.

Top Nifty Gainers: ACC closed the day higher by 2.33 per cent, followed HDFC, Infosys, Bharti Airtel and Ultra Tech Cement.

Top Nifty Losers: Dr Reddys Labs closed the day lower by 2.39 per cent, followed by Tata Steel, Sun Pharma, Tata Power and HDFC Bank.

The sectoral indices were mixed in today’s session. Bankex and Healthcare stocks witnessed to dragged the indices on the lower side, and were down more than 150 points each. While Metals, Mid-caps and Small-Caps stocks also were ended with the profit booking session, down around 50 points each. However IT and Oil & Gas index were closed above their resistance level, down by around 50 points each.

Most the Asian markets were nominally positive in today’s trade. The Taiwan market saw good up move up by 70 points. While the Hang Seng and KOSPI markets closed up by 28 points and 14 points respectively. However Nikkei closed in the negative note, down by 18 points.

Buzzer: Dr Reddys Labs was down by more than 2.39 per cent on the bourses today and closed down at the technical level around Rs 3280. If the stock opens below this level, it may touch Rs 3260/3230 mark in the next few sessions.

Nifty Futures took a major support around the technical level of 8750. This level will be act as a pivot level for further trading session.