Sensex, Nifty Close At Lower Ends, Metal Tanks

The Indian markets witnessed negative move in today’s morning session. However indices seemed to be recovering at midsession. But at the end of the day it closed at the lower end after 12 out of 13 sectorial indices closed in the red zone. Metals, Bankex and Auto saw a heavy sell-off in today’s session. As a result the Nifty remained on lower side by 46 points at 6715 and Sensex was 165 points lower at 22466.

The advance-decline ratio on NSE was on the negative side as the day ended with 1574 shares in green and 1892 shares in the red zone.

Top Nifty Gainers: Ambuja Cement gained 1.15% in today’s trade, followed by Tech Mahindra, ACC, Grasim and BPCL.

Top Nifty Losers: Jindal Steel closed the day lower by 7.53%, followed by Tata Steel, HUL, Hindalco and Tata Power.

Most of the sectoral indices closed on a negative note. Metals and Bankex witnessed nosedive moves by 279 and 190 points respectively. Auto and Capital Goods indices also witnessed downward moves of 160 points and 93 points respectively. Mid-Caps and Small-Caps also ended the day on a negative note. However, only Consumer Durables index managed to close in the positive territory. 

All the major Asian markets closed the day on a mixed note. Hang Seng closed up by 321 points, whereas the Nikkei Index closed on today’s session. Shanghai Composite and Taiwan also closed in the positive territory. 

Buzzer: Hindalco was down by more than 2.5% on the bourses today and closed below the technical level of Rs 140. If the stock opens below this level, it may touch the Rs 135/130 mark in the next few sessions.

Nifty future closed below the crucial support level which is at 6800. If it opens and remains below this level may see some more profit booking around 6735/6700 level.