Indices Ends On Lower Note, Nifty Below 8350 Mark

The Indian benchmark has faced profit booking in the last 3 consecutive sessions. Most of the sectoral indices are seeing deep dives and has been closing below its respective supports. After the mid-session Healthcare, Consumer Durables, Mid-caps and Small-Caps index were turn into negative territory and also hammered badly. As a result the Nifty ended on lower note by 24 points at 8337 and Sensex was 102 points down at 27459. 

The indices ended in the red by 0.29% and 0.37% respectively. In the today’s session, both the indices ended lower around 0.30 percent.

The advance-decline ratio ended on the same on the both the side. On the NSE, 1362 shares closed in green, while 1391 shares ended the day in the red.

Top 5 Nifty Gainers: PNB closed the day with the highest gains of 4.9%. BHEL, NTPC, Kotak Mahindra Bank and Yes Bank were the others in gains.

Top 5 Nifty Losers: NMDC remained the biggest loser, down by 4.8%, followed by Hero Motocorp, Dr Reddy’s, HDFC and Asian Paints.

11 out of the 13 sectors traded in the red. Healthcare and Auto were the top losers, down around 150 points each. Metals, Oil & Gas, Mid-caps and Small-Caps also dragged the markets, down around 50 points. Consumer Durable and FMCG also were surrounded in negative sentiment. However, Bankex and Capital Goods maintained its gains till closing sessions.

The Asian markets closed a on mixed note. The Hang Seng market closed as the top gainer, up by 151 points. However Nikkei market was in negative note, down by 21 points. Straits Times and Shanghai Composite ended with marginal loss.

Buzzer: Dish TV announced its Q1 results, wherein the net revenue went up around 20% at Rs 736 crore. The stock moved down by 3.9% and hit a new low of Rs 113.15. 

The Nifty has fallen and closed below 8350. If it sustains below this level, a bearish scenario may continue.