Indices Fall With No Respite
Suparna / 29 May 2014
Indian equity markets today witnessed a perpendicular fall as most of the sectoral indices closed the day in the negative zone. IT and Capital goods stock got hammered by more than 200 points on the bourses. Nifty at the closing bell was negative by 94 points at 7235 and Sensex was lower by 321 points at 24234 level.
The Indian markets witnessed a perpendicular fall in last half hour of May F&O expiry session. Most of the sectorial indices sunk and closed on the lower ends. As a result, the Nifty closed lower by 94 points at 7235 and Sensex was down by 321 points at 24234.
The advance-decline ratio on NSE was negative, as the day ended with 1666 shares in green and 1864 shares in the red zone.
Top Nifty Gainers: Hindalco gained 1.43% in today’s trade, followed by Dr Reddy’s Lab, M&M, UltraTech Cement and NTPC.
Top Nifty Losers: Infosys closed the day lower by 7.84%, followed by Jindal Steel, IDFC, HCL Tech and Wipro.
Most of the sectoral indices closed on a negative note. IT and Capital Goods stocks got hammered in today’s trading session and went down by 299 points and 222 points respectively. It was followed by Bankex, Oil & Gas and Metals which were also caught in profit booking move around 100 points each. Mid-Caps and Small-Caps also closed in the red zone.
All the major Asian markets had a mixed session on the bourses today and ended the day in the negative territory. Only the Nikkei market closed up by 10 points, while Hang Seng witnessed negative move by 69 points, KOSPI and Shanghai Composite closed on the negative side as well.
Buzzer: Infosys was down by more than 7% on the bourses today and closed down at the technical level of Rs 2950. If the stock opens below this level, it may touch the Rs 2880/2845 mark in the next few sessions.
Nifty future is below its vital support which was around 7250 level. If it opens below this level may see more profit booking trade.
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