Indices remain negative amid a wave of uncertainty

The Indian markets didn't witness any sign of recovery till closing session. The majority of the indices closed in negative territory. The Sensex fell 111 points and ended at 28523. The Nifty ended with negative note, down by 32 points at 8775 level. Both the indices closed down around 0.35 per cent each.

At closing, the market breadth was negative. On the NSE, 21 shares closed in the green and 30 shares ended the day in red.Apart from Metals and Oil and Gas all of the sectoral indices closed in the red today. Auto was the highest loser as it lost 139 points by the day’s end. Bankex and Capital Goods were down by around 80 points each; and Mid-caps and Small-Caps also closed in negative territory.

In the Asian markets, the Nikkei closed down by 27 points. The Hang Seng index also ended lower by 19 points. However the Taiwan and KOSPI ended on a positive note.

European markets were also trading in positive scenario.

Derivative Analysis

Nifty future closed at vital support of 8800, going ahead 8740/8690 will be the vital supports.