Indices end on a lower note

The bears have hammered the indices at closing buzz and the Indian markets witnessed a deep cut. Majority of the selling was witnessed in Banking stocks and index closed down by 282 points. The Nifty ended lower by 36 points at 8831 and Sensex was 104 points down at 28668. The indices lost -0.36 to 0.40 per cent respectively.

At closing, the market breadth was negative. On the NSE, 12 shares closed in the green and 37 shares ended the day in red.

9 out of 13 sectors closed in negative territory. Bank stocks dragged the benchmark down by 282 points. While Healthcare and Auto were down by around 60 points and 53 points respectively. However Metal and Oil & Gas closed in positive territory around 80 points and 18 points respectively. 

In the Asian markets, the Nikkei closed down in today’s trade by 53 points. The Hang Seng index ended down by 73 points. While the Taiwan and KOSPI ended on a positive note.

European markets were trading in negative scenario.

Derivative Analysis

Nifty future closed on the red mark. However, index has vital support at 8800/8750 levels.