Indices Range Bound, Oil & Gas Close Negative
Suparna / 03 Jul 2014
After touching record high levels in yesterday’s trading session the Indian markets today closed in the negative territory. The Bombay Stock Exchange after experiencing a technical glitch in the morning session resumed trading in the afternoon session. Oil & Gas and Bankex witnessed profit booking in small portions as investors tried to cash-in ahead of the Union Budget next week. At the closing bell Nifty index closed lower by 10 points at 7714 and Sensex was negative by 17 points at 25823.
The Indian market witnessed a range bound trading session and closed on some negative note in today’s session. Oil & Gas, Metals and Bankex closed on the negative note however, Auto, Healthcare and Consumer Durables closed in the positive territory. The Nifty saw a down move by 10 points at 7714 and Sensex was down by 17 points at 25823.
The advance-decline ratio on NSE was negative, as the day ended with 1697 shares in green and 1872 shares in the red zone.
Top Nifty Gainers: Tata Motors gained 3.06% in today’s trade, followed by Wipro, Sun Pharma, M&M and Cipla.
Top Nifty Losers: Hero Motocorp closed the day lower by 3.41%, followed by Hindalco, Tata Power, Bajaj Auto and ONGC.
Most of the sectoral indices closed on a mixed note. Oil & Gas and Metals stocks witnessed some profit booking in today’s trading session and went down by around 100 points. Mid-caps and Small-caps also saw a downtrend around 20 points each, while Healthcare, Auto and IT closed on the positive side.
All the major Asian markets had a mixed session on the bourses today and ended the day in the positive territory. The Nikkei witnessed down move by 21 points, the Hang Seng market closed down by 18 points, while Taiwan and Shanghai closed on the positive side as well.
Buzzer: Hero Motocorp was down by more than 3.41% on the bourses today and closed down at the technical level of Rs 2600. If the stock opens below this level, it may touch Rs 2560/2530 mark in the next few sessions.
Nifty future has a vital support around 7680/7650 level. Until the index is closing above these levels, present scenario may remain constant.
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