Sensex, Nifty end on a disappointing note

The Indian benchmarks faced another unsatisfactory day, with most of the stocks seeing deep dives to close below its respective supports. After the mid-session Capital Goods, Banking and Auto index were hammered badly. As a result the Nifty ended lower by 68 points at 8521 and Sensex was 258 points down at 28112. The indices ended in the red by 0.87% and 0.79% respectively. In today’s session, both the indices ended lower around 0.80 percent.

The advance-decline ratio ended on the negative side. On the NSE, 1269 shares closed in green, while 1589 shares ended the day in the red.

Top 5 Nifty Gainers: Tech Mahindra closed the day with the highest gains of2.2%. Bank Of Baroda, Sun Pharma, Hero Motocorp and Cipla were the others to gain.

Top 5 Nifty Losers: ICICI Bank remained the biggest loser, down by 3.9%, followed by Wipro, Lupin, Tata Motors and SBI.

11 out of the 13 sectors traded in the red. Capital Goods, Bankex and Auto were the top losers, down around 250 points each. Metals and Oil & Gas also dragged the markets down around 100 points.Mid-Caps and Small-Caps also were surrounded in negative sentiment. However Consumer Durables maintained its gains till closing].

The Asian markets closed on a negative note. The Hang Seng market closed as the top loser, down by 259 points. Nikkei market was also in negative, down by 96 points. KOSPI and Shanghai Composite ended with marginal gains.

Buzzer: Lupin announced its Q1 results, wherein the net revenue went down by 15% at Rs 572 crore. The stock moved down by 3% and hit a new low of Rs 1660. 

The Nifty has fallen and closed below 8550. If it sustains below this level, a bearish scenario may continue.