June Expiry Ends With Profit Booking, Oil & Gas Hammered
Suparna / 26 Jun 2014
It was a profit booking day on Dalal Street today as investors stayed cautious following the June future expiry. Most of the sectors ended the day in the negative territory. Oil & Gas stocks plunged by 400 points, citing the continuous tension in Iraq. At the closing bell the Nifty index was down by 76 points at 7493 and Sensex closed lower by 251 points at 25062.
The Indian market witnessed a profit booking scenario in the June future expiry. On sectorial front Oil & Gas, Bankex, Metals, Mid-Caps and Small-Caps were all caught in bear grip. As a result, the Nifty saw a down move by 76 points at 7493 and Sensex was down by 251 points at 25062.
The advance-decline ratio on NSE was negative, as the day ended with 1752 shares in green and 1840 shares in the red zone.
Top Nifty Gainers: Tech Mahindra gained 1.44% in today’s trade, followed by L&T, Wipro, Dr Reddy’s Labs and HCL Tech.
Top Nifty Losers: ONGC closed the day lower by 5.84%, followed by Reliance, DLF, NTPC and Grasim.
Most of the sectoral indices closed on a negative note. Oil & Gas stocks witnessed perpendicular fall in today’s trading session and went down by around 400 points. Bankex and Metals were also hammered in this scenario and saw down move around 200 points each, while Mid-Caps and Small-Caps closed on the negative side. However, Capital Goods and Health Care provided some 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 Hang Seng witnessed up move by 331 points, the Nikkei market closed up by 41 points, while Taiwan and Straits Times closed on the positive side as well.
Buzzer: ONGC was down by more than 5% on the bourses today and closed down at the technical level of Rs 410. If the stock opens below this level, it may touch Rs 390/380 mark in the next few sessions.
Nifty future closed below its vital technical support level which was at 7500. If the index opens below this level, may see some more downward movement.
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