DSIJ Mindshare

Choppy Market Ends On Lower Note

The Indian markets have been witnessing choppy trades for two consecutive days. Today, indices like Capital Goods and Bankex were surrounded in negative sentiments and down by 207 points and 163 points respectively. The Nifty ended down by 16 points at 8382 and Sensex was down 86 points at 27809. The indices ended the day lower by -0.19% and -0.31% respectively.

The advance-decline ratio ended on the negative side. On the NSE, 1161 shares closed in green, while 1504 shares were in the red.

Top 5 Nifty Gainers: HCL Tech closed the day with the top gains, up by 3.4%. Ultra tech Cement, TCS, Bajaj Auto and Infosys were among the other key gainers.

Top 5 Nifty Losers: GAIL was the top loser, down by 3.49%, followed by Cairn India, Vedanta, Bharti Airtel and BHEL.

By the end of the day, 7 out of 13 sectors remained in the red zone. Capital Goods was the top loser, down by 197. Bankex and Metals were down by 156 points and 85 points respectively. While Oil & Gas and FMCG also closed in negative territory. Only Consumer Durables and IT provide good support and were ended on a up around 150 points each.

The Asian markets closed on a positive note. The Hang Seng market was the top loser, down by 481 points. Nikkei also ended lower by 65 points. Taiwan and Shanghai Composite ended on a negative note.

Buzzers: GAIL the stock was down by 3.21% to make a low below the technical level of 400. If the stock opens below this level it may see more downward moves.

The Nifty index was strongly volatile on both sides. However it does not manage to sustain above 8400 level. Going ahead 8340/8280 level will be the major support levels.

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