Sensex, Nifty Extremely Volatile

The Indian markets witnessed massive volatility in today’s trading session. In the first half, indices continued with its profit booking trade from last couple of days. However market took the budget very positively and recovered from the lower end. On the closing buzz, the market again witnessed some profit booking to close on the lower note. As a result, the Nifty saw down move by 17 points at 7567 and Sensex was down by 72 points at 25372.

The advance-decline ratio on NSE was positive, as the day ended with 1971 shares in green and 1620 shares in the red zone.

Top Nifty Gainers: DLF gained 9.02% in today’s trade, followed by IDFC, Hindalco, Tata Power and United Spirits.

Top Nifty Losers: Hero Motocorp closed the day lower by 3.89%, followed by Tech Mahindra, Bharti Airtel, TCS and IndusInd Bank.

Most of the sectoral indices closed on a mixed note. Consumer Durables and Auto stocks witnessed perpendicular fall in today’s trading session and went down by 270 points and 140 points respectively. IT and Bankex also saw downtrend of more around 100 points each, while Mid-Caps and Small-Caps 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 market witnessed down move by 86 points, the Hang Seng market closed up by 62 points, while Taiwan and KOSPI closed on the negative side.    

Buzzer: DLF was up by more than 9% on the bourses today and closed down at the technical level of Rs 220. If the stock opens above this level, it may touch Rs 230/245 mark in the next few sessions.

Nifty future closed below the technical level of 7550, which is a negative indicator for further move.