Indices Witness Range Bound Trade
Suparna / 11 Apr 2014
Markets closed the last trading day of the week on a negative note, after investors were indulged in profit booking trade. Auto, Bankex and Oil & Gas witnessed selling pressure and closed down more than 100 points each. The Nifty30 closed down by 20 points at 6776 and the Bombay Stock Exchange closed lower by 86 points to trade at 22628.
The Indian markets witnessed range bound trade till closing-session. Indices saw no swing of recover in today’s trading session. As a result the Nifty remain in the stress and closed nominally down by 20 points at 6776 and Sensex was 86 points lower at 22628.
The advance-decline ratio on NSE was on the positive side as the day ended with 1780 shares in green and 1605 shares in the red zone.
Top Nifty Gainers: HCL Tech gained 3.19% in today’s trade, followed by Ambuja Cement, Sun Pharma, Tech Mahindra and TCS.
Top Nifty Losers: IndusInd Bank closed the day lower by 4.3%, followed by SBI, Tata Motors, BPCL and Reliance.
Most of the sectoral indices closed on a mixed note. IT and Health Care witnessed superb up move by 134 points and 94 points respectively. Mid-Caps and Small-Caps witnessed some positive trade. However Auto, Bankex and Oil & Gas saw a selling pressure and were down more than 100 points each.
All the major Asian markets closed the day on a negative note. Hang Seng closed down by 183 points, whereas Taiwan Index closed up by 40 points. Shanghai Composite and Kospi also closed in the negative territory.
Buzzer: Tata Motors was down by more than 1.67% on the bourses today and closed near the technical level of Rs 425. If the stock opens below this level, it may touch the Rs 415/400 mark in the next few sessions.
Nifty Future stuck around 6800 level in current scenario. The level of 6740 will be the vital support on the lower level and the level of 6830 will be the major hurdle for further trade.
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