Indices bleeds, Nifty Tanks By 200 Points

The Indian markets witnessed a perpendicular fall in today’s trade. The benchmark indices failed more than 2% without any respite.  All the scetoral indices hit badly to close below respective supports. Banking and Capital Goods stocks tanked more than 550 points each. Auto and Metals also witnessed a fall of around 300 points. While Mid-Caps and Small-Caps indices at BSE also fell by more than 150 points each. The Nifty closed 198 points below its previous closing at 8126 while Sensex was down by 629 points and closed at 26877.

The advance-decline ratio on NSE was on the negative side, as the day ended with 753 shares in green and 1965 shares in the red zone.

Top Nifty Gainers: Hero Motocorp and Dr reddys Labs closed in green mark up by 3% each.

Top Nifty Losers: Bank Of Baroda closed the day lower by 6.66%, followed by Tata Steel, Cairn India, Vedanta  and BHEL.

All the sectoral indices closed in the negative note in today’s session. Banking and Capital Goods stocks were real culprits and were down by more than 550 points each. Auto and Metals stocks too fell around 300 points each. This was followed by Mid-Caps, Small-Caps, Healthcare, IT 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 311 points. The Strait Times markets also closed on negative mark. However Nikkei and Taiwan index closed in positive territory.   

Buzzer: Tata Steel was down by more than 6.23% on the bourses today and closed below at the technical level around Rs 355. If the stock opens below this level, it may touch Rs 340/330 mark in the next few sessions. 

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