Indices recover; HDFC, Dr Reddy's shine
The Indian markets witnessed a good recovery after mid-session. The sectoral indices like FMCG, Banks and Healthcare closed in green territory. The Sensex ended 79 points higher at 27916 and Nifty ended on neutral mood at 8615.
The advance-decline ratio ended negative in the closing session. On the NSE, 16 shares closed in green, while 35 shares ended the day in red.
Apart from the Banks, FMCG and Healthcare all of the sectoral indices closed in negative in today’s session. Auto and Consumer Durables were the top losers, losing around 300 points and 129 points respectively. While Mid-Caps and Small-Caps were down by around 100 points each. Oil & Gas, Metals and IT also closed in negative territory by around 75 points each.
In the Asian markets, the Nikkei closed down by 55 points. The Hang Seng index ended down by 193 points. While the Taiwan and Shanghai also ended on a negative note.
European markets were also trading in negative scenario.
Derivative Analysis
Nifty future closed above its crucial supports which is 8500/8550. If it sustains above this level, it may see more recovery.