Indices Jerk, Sensex Below 28500 Mark.

The Indian stock markets saw massive amount of volatility on either sides. Index opened with positive cues and remained firm till mid-session, with the technical level of around 28700. The Sensex also had major profit booking and closed in negative territory, which was below 28500 mark. The Bankex was hammered the most and closed down by 386 points. The Mid-Caps and Small-Caps also closed in negative territory. The Nifty was down by 51 points and closed at 8634 level, while Sensex was down by 152 points and closed at 28469 level. 

The advance-decline ratio on NSE was on a negative side, as the day ended with 1115 shares in green and 1727 shares in the red zone.

Top Nifty Gainers: Lupin closed the day higher by 2.58 per cent, followed  by Asian Paints, GAIL, Tata Steel and TCS.

Top Nifty Losers: PNB closed the day lower by 3.92 per cent, followed by Bank Of Baroda, Axis Bank, BPCL and IndusInd Bank.

The sectoral indices were negative in today’s session. Bankex index was a big loser of the day and was down by 386 points. Capital Goods was down by 174 points. While Auto, Oil & Gas, Mid-caps and  Small-Caps stocks also were negative, and were down around 65 points each. However, Healthcare and Consumer Durables saw some positive action, and were up by 71 points and 51 points respectively.

Most of the Asian markets ended with positive scenario. The Hang Seng market saw upward momentum by 348 points. Taiwan and Straits Time market were up by 83 points and 24 points respectively. However, Nikkei  closed in the red territory, and was down by 67 points. 

Buzzer: PNB was down by more than 3.5 per cent on the bourses today and closed up at the technical level of around Rs 165. If the stock opens below this level, it may touch Rs 157/148 mark in the next few sessions.

The Nifty futures gave bullish crossover after it broke 8800 level. But it didn't sustain above this level and took vital support around 8600 level. These are the important levels for further trade.