Indices Witnessed Small Participation From Bears.
Suparna / 03 Apr 2014
The markets got a halt to their continuous winning streak as investors booked profits in today’s trading session. Major sell-off was witnessed in heavy weight indices such as Banking and Oil & Gas. Nifty closed down by 16 points at 6736 and BSE Sensex was down by 42 points to trade at 22509.
The Indian markets witnessed some profit booking trade after a long bull run. Most of the indices closed in negative territory. Banking and Capital Goods were down more than 100 points. However Health Care, Metals and FMCG were closed on the positive note. Nifty closed negative by 16 points at 6736 and Sensex was 42 points lower at 22509.
The advance-decline ratio on NSE was on the negative side as the day ended with 1566 shares in green and 1845 shares in the red zone.
Top Nifty Gainers: Jindal Steel gained 3.03% in today’s trade, followed by Asian Paints, Ambuja Cement, Lupin and HUL.
Top Nifty Losers: BHEL closed the day lower by 3.10%, followed by DLF, GAIL, IndusInd Bank and Bank Of Baroda.
Most of the sectoral indices closed on a negative note. Bankex and Capital Goods witnessed profit booking by 100 points. Oil & Gas and Auto also saw some negative trend, around 84 points and 17 points respectively. Mid-Caps and Small-Caps witnessed a negative trade. However, Health Care, FMCG and Metals were closed in the negative territory.
All the major Asian markets closed the day on a mixed note. Nikkei closed up by 125 points, whereas Hang Seng closed up by 41 points. Taiwan and Kospi also closed in the negative territory.
Buzzer: Asian Paints was up by more than 3.02% on the bourses today and closed near the technical level of Rs 540. If the stock opens above this level, it may touch the Rs 545/352 mark in the next few sessions.
Nifty Future witnessed profit booking however it closed above the technical level of 6750. On the closing basis till it’s closed above the level of 6680, there will be no fear for the bulls.
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