Nifty Again Slide Below 8400 Mark
After the positive opening, the Indian market surprisingly took a ‘U’ turn to close in a negative territory. The sectoral indices like Capital Goods and Healthcare surrounded in the negative sentiments and dragged the benchmark to the lower ends. The index like Auto and Oil & Gas also ended on red mark. The Nifty again closed below its crucial support levels and was down by 31 points and closed at 8398 while Sensex was down by 155 points in today’s trade and closed at 27735.
The advance-decline ratio on NSE was negative side, as the day ended with 1376 shares in green and 1439 shares in the red zone.
Top Nifty Gainers: Yes Bank closed the day higher by 6.94%, followed by Tata Steel, HCL Tech, Zee Entertain and IndusInd bank.
Top Nifty Losers: Sun Pharma closed the day lower by 2.67%, followed by ACC, Tech Mahindra, UltraTech Cement and Cairn India.
Most of the sectoral indices saw range bound trade in today’s session. Capital Goods and Healthcare stocks saw a deep dive and were down by around points 150 each. Followed by Auto and Oil & Gas stocks that too were hammered and were down by more than 50 points each. While Bankex, IT and Small-Caps also closed in red territory.
The Asian markets witnessed superb recovery in today’s session. The Hang Seng market shown good up move by 755 points. Followed by Nikkei and Shanghai Composite market were up by 274 points and 77 points respectively. However, Hand Seng market closed in negative, down by 106 points. Buzzer: ACC was down by more than 2.67% on the bourses today and closed below at the technical level around Rs 945. If the stock opens below this level, it may touch Rs 930/920 mark in the next few sessions.
Nifty Future future again closed below the technical level of 8400. Indicating major resistance on the higher side.