Indices Closed Nominally Negative, Oil & Gas Falls By 7%
Suparna / 19 Jun 2014
It was a volatile trading day on Dalal Street, as markets that saw a positive opening was caught in the grip of profit booking and ended the day in the negative territory. Oil & Gas stocks slumped by more than 350 points on the bourses amid continuing violence in one of the biggest oil refineries in Iraq. Nifty closed the day lower by 17 points at 7540 and Sensex was negative by 44 points to trade at 25201.
After a positive opening session, indices continued to trade in the negative territory. Most of the selling was seen in Oil & Gas and Bankex sector. As a result the Nifty saw a down move by 17 points at 7540 and Sensex was down by 44 points at 25201.
The advance-decline ratio on NSE was negative, as the day ended with 1682 shares in green and 1884 shares in the red zone.
Top Nifty Gainers: IndusInd Bank gained 2.81% in today’s trade, followed by Infosys, TCS, Asian Paints and HCL Tech.
Top Nifty Losers: United Spirits closed the day lower by 7.18%, followed by ONGC, BPCL, Kotak Mahindra and Reliance.
Most of the sectoral indices closed on a negative note. Oil & Gas and Bankex stocks witnessed a selling in today’s trading session and went down by 358 points and 159 points respectively. It was followed by Metals and Capital Goods that also saw a downward move around 100 points each, while Mid-Caps and Small-Caps closed on the positive side. IT sector witnessed to provide good support to the indices.
All the major Asian markets had a positive session on the bourses today and ended the day in the positive territory. The Nikkei market closed up by 245 points, while Hang Seng witnessed negative move by 13 points, KOSPI and Shanghai Composite closed on the negative side as well.
Buzzer: United Spirits was down by more than 7% on the bourses today and closed up at the technical level of Rs 2610. If the stock opens below this level, it may touch Rs 2575/2560 mark in the next few sessions.
Nifty future is range bound around the present levels which is 7550. It has a vital support at 7490/7465 levels.
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