Indices Extends Profit Booking, ICICI, Maruti Hammered
Suparna / 25 Apr 2014
Owing to a decline in their quarterly performance results, major heavyweight indices today witnessed a nosedive trade. The Indian markets closed the day in red zone with Nifty down by 58 points at 6782 and Sensex plunging by 188 points to trade at 22688. Cairn India closed the day lower by 4.94%.
The Indian markets witnessed downward move in today’s trading session. Most of the heavyweights stock saw nosedives trade after mid-session. ICICI Bank was hit the most in banking sector, though it’s Q4 result was seen in a positive way. The Nifty remained on lower side by 58 points at 6782 and Sensex was 188 points lower at 22688.
The advance-decline ratio on NSE was on the negative side as the day ended with 1521 shares in green and 1901 shares in the red zone.
Top Nifty Gainers: M&M gained 3.04% in today’s trade, followed by Dr Reddy’s Labs, Tech Mahindra, HDFC and NMDC.
Top Nifty Losers: Cairn India closed the day lower by 4.94%, followed by Ambuja Cement, UltraTech Cement, Grasim and BPCL.
Most of the sectoral indices closed on a negative note. Oil & Gas and Capital Goods witnessed nosedive move by 200 points and 171 points respectively. Bankex and FMCG indices also witnessed downward moves of more than 100 points. Mid-Caps and Small-Caps ended the day on a nominal negative note. However Consumer Durables and Heath Care closed in the positive territory.
All the major Asian markets closed the day on a negative note. Hang Seng closed down by 339 points, whereas Taiwan Index closed down by 171 points. Shanghai Composite and Kospi also closed in the negative territory. However Nikkei Index closed on some positive note up by 24 points.
Buzzer: Cairn India was down by more than 4.94% on the bourses today and closed below the technical level of Rs 340. If the stock opens below this level, it may touch the Rs 330/325 mark in the next few sessions.
Nifty may future closed below the technical level of 6850, which is the negative diversion for further trading session.
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