Indices Tank By 1.4 per cent, Sensex Touch 28500 Mark

The Benchmarks indices surprised the D-street as it witnessed perpendicular fall in today’s session. All the sectoral indices were hammered badly and closed below respective support levels. Bankex and Capital goods failed without any respite, and were down more than 400 points each. Auto index also dipped more than 300 points.  IT, Metals, Mid-Caps and Small-Caps also broke their vital supports. The Nifty was under massive amount of selling pressure, and was down by 128 points and closed at 8647 level, while Sensex was down by 427 points and closed at 28503.

The advance-decline ratio on NSE was on a negative side, as the day ended with 915 shares in green and 1958 shares in the red zone.

Top Nifty Gainers: DLF closed the day higher by 5.32 per cent, followed by Bharti Airtel, ONGC, Coal India and INFY.

Top Nifty Losers: Jindal Steel closed the day lower by 4.27 per cent, followed by BHEL, Cairn India, LT and Ambuja Cement.

All the sectoral indices were negative in today’s session. Bankex and Capital Goods stocks were tanked from their support level, and were down by more than 400 points. Auto index also dives around 323 points. IT, Metals, Mid-Caps and Small-Caps closed in negative territory, and were down around 100 points.

The Asian markets continued with the mixed scenario. Nikkei showed some up move by 263 points. Hang Seng and KOSPI market was up by 25 points and 15 points respectively. The Strait Time and Taiwan market saw some weakness and closed on negative note.    

Buzzer: Jindal Steel was down by more than 4.27 per cent on the bourses today and closed down at the technical level of around Rs 190. If the stock opens below this level, it may touch Rs 177/170 mark in the next few sessions.

The Nifty Futures form bearish engulfing candle and also closed below 8700 level. Over all, the scenario is indicating a more downward picture.