The Indian markets saw massive amount of profit booking in today’s trading session. Major selling was observed in banking stocks like Bank Of Baroda, Canara Bank, ICICI Bank and Bank Of India which witnessed a deep cut and dragged the benchmark indices on the lower side. Auto and Consumer Durables index also closed on a negative note and were down by 200 points each. The Nifty was hammered by 143 points and closed at 8808 whereas Sensex plunged by 498 points down and closed at 29182.

The advance-decline ratio on NSE was on the negative side as the day ended with 1247 shares in green and 1622 shares in the red zone.

Top Nifty Gainers: HCL Tech gained 8.66% in today’s trade, followed by Tata Power, BPCL, Lupin and DLF.

Top Nifty Losers: Bank Of Baroda closed the day lower by 11.05%, followed by SBI, ICICI Bank, PNB and HDFC Bank.

Most of ehe sectoral indices closed on a negative note. Banking index, BSE Bankex was down by 737 points in today’s session,. Auto and Consumer Durables also closed in the negative territory and were down by more than 200 points each. Capital Goods, Healthcare, Metals and Oil & Gas also closed in the negative territory. However IT index managed to closed in positive territory in today’s trade, and was up by 22 points. 

All the major Asian markets closed the day on a negative note except for Nikkei. The Hang Seng index witnessed closing, down by 88 points. Taiwan Index, KOSPI and Shanghai closed in the red territory. However the Nikkei market closed in the positive territory in today’s session, up by 68 points.   

Buzzer: Bank Of Baroda was down by more than 11% on the bourses today and closed below the technical level of Rs 200. If the stock opens above this level, it may touch the Rs 175/160 mark in the next few sessions.

Nifty Future tanked and broke all the immediate support as closed below the technical level of 8900. If index sustain below this level we may see more painful scenario ahead.