Indices Choppy Ahead Of Union Budget
Suparna / 09 Jul 2014
The Indian markets witnessed extremely choppy trade in today’s trading session. Most of the traders tried to reduce their long position in the closing buzz. As a result, the Nifty saw down move by 38 points at 7585 and Sensex was down by 137 points at 25444.
The Indian markets witnessed extremely choppy trade in today’s trading session. Most of the traders tried to reduce their long position in the closing buzz. As a result, the Nifty saw down move by 38 points at 7585 and Sensex was down by 137 points at 25444.
The advance-decline ratio on NSE was negative, as the day ended with 1208 shares in green and 2396 shares in the red zone.
Top Nifty Gainers: ONGC gained 2.08% in today’s trade, followed by BPCL, IDFC, ITC and ACC.
Top Nifty Losers: Jindal Steel closed the day lower by 4.10%, followed by Coal India, M&M, Tata Power and Maruti Suzuki.
Most of the sectoral indices closed on a negative note. Auto and Capital Goods stocks witnessed perpendicular fall in today’s trading session and went down by around 300 points. Metals, Bankex, Health Care and IT also saw downtrend of more than 100 points each, while Mid-Caps and Small-Caps closed on the negative side.
All the major Asian markets had a mixed session on the bourses today and ended the day in the positive territory. The Nikkei market witnessed down move by 11 points, the Hang Seng market closed down by 365 points, while Taiwan and Straits Times closed on the negative side.
Buzzer: Jindal Steel was down by more than 4% on the bourses today and closed down at the technical level of Rs 297. If the stock opens below this level, it may touch Rs 280/270 mark in the next few sessions.
Nifty future closed below the technical level of 7600. The level of 7540/7510 will be the vital support level for tomorrow’s session.
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