Market Remain In Stress, Oil & Gas Down By 1.5%

The Indian markets remained in stress ahead of long weekend. Apart from IT all other sectoral indices closed in the red mark. The indices like Oil & Gas and Capital Goods were hammered more than 100 points. While Mid-Caps and Small-Caps also closed in negative note. The Nifty closed down by 19 points at 7945 and Sensex was down by 62 points at 26567 at closing bell.

The advance-decline ratio on NSE was negative side, as the day ended with 1588 shares in green and 2055 shares in the red zone.

Top Nifty Gainers: Wipro gained 3.18% in today’s trade, followed by Infosys, Maruti Suzuki, Tata Power, Cairn and GAIL.

Top Nifty Losers: IndusInd Bank closed the day lower by 3.17%, followed by Maruti Suzuki, Tata Power, Cairn India and GAIL.

The sectoral indices that closed in negative in today trading session are Oil & gas, which tanked by 166 points followed by Capital Goods, Consumer Durable and FMCG stocks were down around 100 points. While Bankex, Auto and Metals closed down around 50 points. Mid-Caps and Small-Caps also closed in negative note. Only IT provided some support to the indices up by 207 points. 

Most of the Asian markets had a negative session on the bourses today and ended the day in the downward territory. The Hang Seng market was down by 296 points, while Straits Times and KOSPI also closed on negative note. While the Nikkei closed down by 91 points.    

Buzzer: IndusInd Bank was down by more than 3.1% on the bourses today and closed down at the technical level around Rs 600. If the stock opens below this level, it may touch Rs 585/570 mark in the next few sessions.

The Nifty Future closed around the crucial support level of 7980. Going ahead, If its closed below this level may see more downward movement.