Bears Take Some Charge, Bankex Sink
Suparna / 30 May 2014
Indian markets closed the last session of the week on a choppy note as Bears took some charge in today’s trading. At the closing bell Nifty was lower by 5 points at 7229 and Sensex was down by 16 points at 24221. Bankex got hammered by more than 250 points on the bourses today.
The Indian markets witnessed a continuous a profit booking scenario today. Most of the selling was seen in stock specific sectors like Bankex and Consumer Durables. However, Heath Care, Mid-Caps and Small-Caps tried to provide some relief to indices. As a result, the Nifty closed lower by 5 points at 7229 and Sensex was down by 16 points at 24221.
The advance-decline ratio on NSE was positive, as the day ended with 1859 shares in green and 1674 shares in the red zone.
Top Nifty Gainers: HUL gained 8.43% in today’s trade, followed by NTPC, M&M, Sun Pharma and Cipla.
Top Nifty Losers: Bank Of Baroda closed the day lower by 3.89%, followed by BPCL, Power Grid, SBI and HDFC.
Most of the sectoral indices closed on a mixed note. Bankex and Consumer Durables stocks got hammered in today’s trading session and went down by 273 points and 139 points respectively. It was followed by Oil & Gas which was also caught in profit booking move around 14 points. However, Heath Care was the outperformer of the day and closed up by 260 points. FMCG and Metals were also providing some strength to the indices, up by 90 points and 53 points respectively. Mid-Caps and Small-Caps also closed in the green zone.
All the major Asian markets had a mixed session on the bourses today and ended the day in the negative territory. The Nikkei market closed down by 49 points, while Hang Seng witnessed negative move by 33 points, KOSPI and Shanghai Composite closed on the negative side as well.
Buzzer: NTPC was up by more than 5.4% on the bourses today and closed up at the technical level of Rs 150. If the stock opens above this level, it may touch Rs 165/180 mark in the next few sessions.
Nifty future closed below the technical level of 7250 which was a bearish signal for short term prospective.