Sluggish Market Closes Nominally Negative
Suparna / 25 Jun 2014
It was another range bound trading session in the Indian markets today as indices hovered around the same level from the opening bell. Most of the sectors closed on a mixed note. The 50 share Nifty index closed the day on a flat negative note by 10 points at 7569 and Sensex closed lower by 55 points at 25313 level. Asian markets also closed on the negative side.
The Indian market witnessed traded in the small range today. The indices were hovering around the same level from the opening session, while some action was seen in the Capital Goods and Bankex sector after some profit booking. The Nifty saw down move by 10 points at 7569 and Sensex was down by 55 points at 25313.
The advance-decline ratio on NSE was positive, as the day ended with 1955 shares in green and 1619 shares in the red zone.
Top Nifty Gainers: Bajaj Auto gained 2.46% in today’s trade, followed by Maruti Suzuki, GAIL, Coal India and HUL.
Top Nifty Losers: ITC closed the day lower by 1.39%, followed by ONGC, ICICI Bank, IDFC and L&T.
Most of the sectoral indices closed on a mixed note. Bankex and Capital Goods stocks witnessed profit booking in today’s trading session and went down around 100 points each. It was followed by Oil & Gas and FMCG that also saw downward move around 20 points each, while 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 territory. The Hang Seng witnessed down move by 13 points, the Nikkei market closed down by 109 points, while Taiwan and Straits Times closed on the negative side as well.
Buzzer: ITC was down by more than 1.39% on the bourses today and closed down at the technical level of Rs 316. If the stock opens below this level, it may touch Rs 300/280 mark in the next few sessions.
Nifty future is hovering around its crucial support level which are 7550/7520. If it comes below this level it may see more profit booking trade.
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