Indices Close Around Crucial Supports, FMGC Tanks
Suparna / 23 Jun 2014
It was a choppy trading session today as indices witnessed a continued slump right from the morning trade. Most of the sectors ended the day on a positive note except for FMGC, which was down by 277 points. Nifty closed the day lower by 18 points at 7493 and Sensex was negative by 74 points to trade at 25031 level. Asian markets also ended the day in the negative territory.
From the opening session, indices continued to trade in the negative territory and market closed around their crucial supports, as they struggled to recover from the lower levels. Most of the participation was seen in the FMCG sector as it witnessed selling after major announcements. The Nifty saw a down move by 18 points at 7493 and Sensex was down by 74 points at 25031.
The advance-decline ratio on NSE was positive, as the day ended with 1849 shares in green and 1714 shares in the red zone.
Top Nifty Gainers: ONGC gained 4.81% in today’s trade, followed by Jindal Steel, Hero Motocorp, BHEL and ACC.
Top Nifty Losers: ITC closed the day lower by 6.18%, followed by Kotak Mahindra Bank, United Spirits, INFY and HCL Tech.
Most of the sectoral indices closed on a positive note. Oil & Gas and Metals stocks witnessed recovery in today’s trading session and went up by 150 points each. It was followed by Auto and Health Care that also saw an upward move around 50 points each, while Mid-Caps and Small-Caps closed also on the positive side. However, FMCG sector witnessed heavy selling down by 277 points.
All the major Asian markets had a negative session on the bourses today and ended the day in the negative territory. The Hang Seng witnessed negative move by 389 points, the Nikkei market closed up by 11 points, while Taiwan and Straits Times closed on the negative side as well.
Buzzer: ITC was down by more than 6.18% on the bourses today and closed down at the technical level of Rs 315. If the stock opens below this level, it may touch Rs 300/290 mark in the next few sessions.
Nifty future closed near its crucial support level which is 7500. If it’s open below this level may see more profit booking scenario.
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