Indices crack after surgical strike, Nifty Below 8600

The Indian markets tanked after surgical strike announcement. All the sectoral indices were hammered badly, down around 1.5-3 per cent. The Sensex tumbled more than 500 points from the days high. The Nifty ended 153 points down at 8591 and the Sensex ended 465 points down at 27827. 

The advance–decline ratio ended on the negative side in closing session. On the NSE, 3 shares closed in green, while 48 shares ended the day in red.

All of the sectoral indices closed in the negative in today’s session. Bankex and Healthcare were the top losers, down more than 500 points each. While Auto, Metals and Capital Goods were down by around 450 points and 300 points respectively. Mid-caps, Small-Caps & Consumer Durables also  closed in negative territory. 

In the Asian markets, the Nikkei closed up by 228 points. The Hang Seng index ended up by 119 points. While the Taiwan and KOSPI also ended on a positive note.

European markets were also trading in positive scenario.

Derivative Analysis

Nifty future closed at 8600, and if it sustains below this level, it may see more downward moves.