DSIJ Mindshare

Market Cautious Ahead Of F&O Expiry

The Indian markets witnessed some directionless movement in today’s trade. However, the benchmark indices staggered to recover from their lower ends.  Banks and Capital Good stocks were positive on today’s trade and were up by 251 points and 116 points respectively. However Auto and IT saw a deep cut and closed down by 402 points and 205 points respectively. Mid-Caps and Small-Caps ended on a flat note. The Nifty close down by 4 points at 8334 while Sensex was up by 33 points in today’s trade and closed at 27564.

The advance-decline ratio on NSE was on the negative side, as the day ended with 1163 shares in green and 1449 shares in the red zone.

Top Nifty Gainers: BHEL closed the day higher by 3.48%, followed by ONGC, Axis Bank, Idea Cellular and NMDC.

Top Nifty Losers: Tech Mahindra closed the day lower by 14.24%, followed by Tata Motors, M&M, Sun Pharma and Infosys.

Most of the sectoral indices closed in the positive note in today’s session. Banking stocks were outperformers of the day and were up by more than 250 points. Capital Goods and Oil & Gas stocks also closed on higher ends and were up around 100 points each. While Consumer Durable, FMCG and Metal index ended on nominal positive note. However Auto and IT index tanked and were closed down by 402 points and 205 points respectively.  The Asian markets witnessed some negative scenario in today’s session. The Hang Seng market was down by 168 points. Followed by KOSPI and Straits time’s markets also were closed on negative mark. However Nikkei indices closed in positive territory, up by 35 points.

Buzzer: Infosys was down by more than 1.9% on the bourses today and closed below at the technical level around Rs 1970. If the stock opens below this level, it may touch Rs 1945/1930 mark in the next few sessions. 

Nifty Future closed around the technical level of 8350. This level will be act as a pivot level for tomorrow’s expiry session.

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