Indices Close With Negative Bias, Nifty Retains 7500 Mark
Suparna / 16 Jun 2014
It was a lacklustre trading day in the Indian markets today as investors stayed cautious amid volatility and profit booking. Most of the sectoral indices closed on a mixed note, but mid-caps and small-caps ended the day on the positive side. Nifty closed the day down by 8 points at 7533 and Sensex was lower by 37 points at 25190 level.
The Indian markets continued with its profit booking scenario in today’s session as well. Capital Goods, Auto and Bankex closed in the negative territory. On the other hand, IT and Consumer Durables provided some support to the indices. The Nifty saw a down move by 8 points at 7533 and Sensex was down by 37 points at 25190.
The advance-decline ratio on NSE was negative, as the day ended with 1668 shares in green and 1870 shares in the red zone.
Top Nifty Gainers: GAIL gained 4.3% in today’s trade, followed by BPCL, DLF, TCS and Sun Pharma.
Top Nifty Losers: M&M closed the day lower by 2.51%, followed by M&M, Axis Bank, L&T and Tata Motors.
Most of the sectoral indices closed on a mixed note. Capital Goods and Auto stocks witnessed a selling in today’s trading session and went down by 180 points and 160 points respectively. It was followed by bankex, which also saw a downward move of around 90 points each. However, IT and Consumer Durables saw some good recovery and closed up by around 100 points. Mid-Caps and Small-Caps closed on the positive side.
All the major Asian markets had a negative session on the bourses today and ended the day in the negative zone. The Nikkei market closed down by 164 points, while Hang Seng witnessed negative move by 18 points, KOSPI and Taiwan closed on the positive side.
Buzzer: GAIL was up by more than 4.3% on the bourses today and closed up at the technical level of Rs 430. If the stock opens above this level, it may touch Rs 450/475 mark in the next few sessions.
Nifty future has an immediate vital support at around 7500. If it sustains below this level, it may see more profit booking.
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