Bears Lead, Nifty Down By 1 %
Bears in today’s session as well continued to tighten its hold on the Indian markets. As a result of this all the sectoral indices failed to sustain, and were closed on lower note. The Healthcare stocks like Apollo Hospital, Aurobindo Pharma, Cadila Healthcare and Dr. Reddy’s Lab witnessed perpendicular fall more than 3% each. The Consumer Durables, Capital Goods, Oil & Gs and Banking indices also suffered, and were down by more than 200 points each. Mid-Caps and Small-Caps indices sinked by 219 points and 313 points respectively. The Nifty nosedived in today’s trade and was down by 91 points at 8213 while Sensex was down by 260 points at 27176 at the closing bell.
The advance-decline ratio on NSE was on negative side, as the day ended with 662 shares in green and 2067 shares in the red zone.
Top Nifty Gainers: Maruti Suzuki closed the day at high by 3.02%, followed by Vedanta, Wipro, Idea Cellular and PNB.
Top Nifty Losers: BPCL closed the day at low by 6.18%, followed by Cairn India, Asia Paints, BHEL and SBI.
It was observed that all sectoral indices snapped from their crucial support in today’s session. Healthcare stocks were tanked around 529 points. Followed by Consumer Durables, Capital Goods, Bankex and Oil & Gas stocks were hammered, down more than by 200 points each. While Mid-Caps and Small-Caps also closed in red territory down by 219 points and 313 points respectively.
On the contrary Asian markets witnessed superb recovery in today’s session. The Hang Seng market showed good up move by 372 points. Followed by Taiwan and Shanghai markets were up by more than 59 points respectively. However the Nikkei market closed nominally negative, down by 33 points.
Buzzer: BPCL was down by more than 6.18% on the bourses today and closed below at the technical level around Rs 735. If the stock opens below this level, it may touch Rs 725/720 mark in the next few sessions.
Nifty Future closed around the most vital support which is 200-EMA level at 8199. If it’s closed below this, level may see more downfall.