DSIJ Mindshare

Markets Collapses Nifty Below 8100

The Indian equity market witnessed a perpendicular fall in today’s trade. Crude oil continued to rise and is at its 2015 peak, raising concerns about the trade deficits and currency. This will impact India Inc performance. All the sectoral indices were hit badly to close below their respective support levels. Bankex and Capital Goods tanked more than 700 points each. Auto and Healthcare indices also witnessed a fall around 500 points. While Mid-Caps and Small-Caps also sapped their outperformance and fell by more than 350 points each. The Nifty closed below its 200 day EMA level, fell by 227 points and closed at 8097 while Sensex was down by 722 points and closed at 26717.

The advance-decline ratio on NSE was same on the negative side, as the day ended with 598 shares in green and 2140 shares in the red zone.

Top Nifty Gainers: Only Bharti Airtel managed to close in green mark in today’s trade and was up by 0.81%..

Top Nifty Losers: BHEL closed the day lower by 6.30%, followed by Ambuja Cement, Kotak Mahindra, ICICI Bank and L&T.

All the sectoral indices closed in the negative note in today’s session. Banking and Capital Goods stocks were real culprits that pulled down the frontline indices and were down by more than 700 points each. Auto and Healthcare stocks also fell around 500 points each. Followed by Mid-Caps, Small-Caps, metals and Oil & Gas stocks that were down by more around 300 points each.

The Asian markets too witnessed downward move in today’s session. The Hang Seng market was down by 114 points. The Taiwan and Shanghai Composite markets also closed on negative mark.  

Buzzer: BHEL was down by more than 6.3% on the bourses today and closed below the technical level around Rs 230. If the stock opens below this level, it may touch Rs 220/210 mark in the next few sessions. 

Nifty Future closed below the crucial support which was at 8150. If it’s open below this level may see 8000 level soon. 

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