Indices Struggle On The Action Of Bears
Suparna / 30 Apr 2014
It was the fourth straight session where the Indian markets closed the day in the negative terrain. All the major indices closed negative with Capital Goods down by more than 250 points. The 50 share Nifty index closed down by 18 points at 6696 and the Sensex was negative by 48 points at 22417. DLF closed the day lower by 8.85%.
The Indian markets witnessed positive opening in today’s morning session. However indices witnessed a nosedive trade after the mid-session. Mid caps and Small caps witnessed virtually no respite, followed by Capital Goods and Metals. However, on the closing bell market managed to recover some loss. As a result the Nifty closed on lower side by 18 points at 6696 and Sensex was 48 points lower at 22417.
The advance-decline ratio on NSE was on the negative side as the day ended with 1291 shares in green and 2159 shares in the red zone.
Top Nifty Gainers: Hero Motocorp gained 2.57% in today’s trade, followed by Dr Reddy’s Labs, Asian Paints, ONGC and Tata Motors.
Top Nifty Losers: DLF closed the day lower by 8.85%, followed by Tata Power, BHEL, Sesa Sterlite and Ambuja Cement.
Most of the sectoral indices closed on a negative note. Capital Goods and Consumer Durables witnessed nosedive moves by 250 and 116 points respectively. Metals, Mid cap and Small cap indices also witnessed downward moves of more than 100 points. However FMCG and Auto index managed to close in the positive territory.
All the major Asian markets closed the day on a mixed note. Hang Seng closed down by 319 points. KOSPI and Taiwan also closed in the negative territory. Whereas the Nikkei Index closed on positive note today’s session
Buzzer: DLF was down by more than 8% 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 133/125 mark in the next few sessions.
Nifty future has a major support level of 6685. It made low around this level and also manage to recover. This level will serve as a vital support level for next trading session.
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