Sensex, Nifty Falls, Auto Dives

The Indian markets witnessed a sharp fall in today’s morning session. The most impacted sectors were the stocks of Banking, Auto and Healthcare, as they witnessed basket selling and crashed by more than 1% each. However, indices struggled to trim their loss after mid-session. The Sensex ended the day at 27645 down by 166 points. The Nifty ended the day at 8318 lower by 62 points. Both the indices closed lower by .75 percent each.

The market breadth ended on a negative note at the end of the day. On the NSE, 875 shares closed in the green, while 1810 shares ended the day in red.

Top Nifty Gainers: HUL was the highest gainer in today’s trade and appreciated by 1.4%. It was followed by PNB, BPCL, NTPC and ITC.

Top Nifty Losers: Tech Mahindra closed the day lower by 7.3%. It was followed by Hindalco, HCL Tech, Tata Motors and SBI.

12 out of the 13 sectors ended the day in red. Auto was the top loser as it closed lower by a hefty 257 points. Healthcare and Bankex also ended the day significantly lower. They lost out 202 points and 144 points respectively. Mid-caps and small-caps were down by 140 points and 165 points respectively.

The same scenario observed in the Asian markets today. The Hang Seng  was the top loser as it closed lower by 696 points. The Nikkei ended lower by 596 points. The Shanghai Composite and Taiwan also ended on a negative note.

Buzzer: Tech Mahindra lost 7.3% today. The stock closed below the technical level of Rs 485, which is indicative of a more negative move ahead.

The Nifty broke the technical level of 8400. However it managed to hold 8300 level on the closing basis. Indicating vital support around lower levels of 8220/8180.