DSIJ Mindshare

Indices Crack, Bankex Letdown

The India Markets tanked after the mid-market session. The Benchmark index fell after Bankex, Capital Goods, IT and Auto indices hammered badly and closed below their respective crucial support levels. The Sensex tumbled more than 100 points from the day’s high. The Nifty ended 122 points lower at 8372 and the Sensex ended 323 points down at 27607.

The advance–decline ratio ended on the negative side in closing session. On the NSE, 784 shares closed in green, while 2064 shares ended the day in red.

Top Nifty Gainers:- Lupin closed the day with the top gain on NSE up by 5.39%, followed by ITC, BPCL, Dr Reddys Labs and Sun Pharma.

Top Nifty Losers:- Yes Bank closed the day as the top loser on NSE down by 7.09% followed by Cairn, PNB, Reliance and Vedanta.

On the sectorial view 11 out of 13 ended in the red. Banking stocks were top loser for the day and index ended down by 499 points. Capital Goods and Auto also fell with no respite, down more than 300 points. Followed by Consumer Durables, IT, Mid-caps and Small-Caps were down by 250 points each. Auto and Capital Good closed down more than 150 points. Mid-Caps ended down by 66 points. However FMCG and Healthcare closed in the positive territory, up around 106 points and 68 points respectively. 

The Asian markets remains negative note. The Hang Seng market ended on a negative note by 410 points. The Nikkei market also closed down by 189 points. The Shanghai Composite and KOSPI ended on negative note.

Buzzers:- Yes Bank stocks rose on the last day trading session but it seemed to lose all the gains in today’s session. The scrip broke its important support level at Rs 730 and also closed below this mention level. If the stock remains around this levels may see further down fall up to Rs 700.   

The Nifty index has given bearish breakdown at 8400 level and closed around 8385 level, a strong indicator of the weak scenario ahead. 

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