Indices Again In Negative, Banking Index Sank

The Indian markets continued with the negative momentum even in today’s trade. The indices fail to recover from the lowest level, as weak global cues dragged the benchmark on the lower side. The major scetoral indices closed in negative territory. Banking stocks like Bank Of India, Canara Bank and Kotak Mahidra Bank slumped more than 3 percent each. Auto, Healthcare, Mid-Caps and Small-Caps also witnessed fall of around 200 points. The Nifty continued to closed in negative and was down by 39 points and closed at 8057 while Sensex was down by 118 points and closed at 26599.

The advance-decline ratio on NSE was on the negative side, as the day ended with 815 shares in green and 1863 shares in the red zone. 

Top Nifty Gainers: TCS closed the day higher by 3.3%, followed by HCL Tech, ACC, Bajaj Auto and Coal India. 

Top Nifty Losers: Bank Of Baroda closed the day lower by 5.37%, followed by IDFC, Kotak Mahindra, Axis Bank and Yes Bank.

All the sectoral indices closed in negative note in today’s session. Banking stocks nosedived in today’s trade and were down by more than 450 points. Auto, Healthcare, Consumer Durabales, Mid-Caps and Small-Caps stocks also fell by around 200 points each. This was followed by Capital Goods and Oil & Gas stocks that were down by around 150 points each.

The Asian markets witnessed downward move in today’s session. The Hang Seng market was down by 350 points. The Nikkei market also down by 239 points. The Taiwan and Shanghai Composite markets also closed on negative mark.  

Buzzer: Bank Of Baroda was down by more than 5.3% on the bourses today and closed below at the technical level around Rs 155. If the stock opens below this level, it may touch Rs 140/130 mark in the next few sessions. 

Nifty Future continue to closed in negative territory, indicating that index may see more deep level below 8000 mark.