Sensex Below 28000 Mark, Oil & Gas Sink

The Indian markets witnessed profit booking in today’s session. The indices saw deep cut as Oil & Gas got hammered, as the government hiked excise duty on petrol and diesel by Rs 1.5 per litre. Bankex and Auto also slipped down by 142 points and 73 points respectively. As a result the Nifty remained in stress and closed down by 25 points at 8357 and Sensex was 68 points lower at 27940.

The advance-decline ratio on NSE was on the negative side as the day ended with 1634 shares in green and 2055 shares in the red zone.

Top Nifty Gainers: HCL Tech gained 2.44% in today’s trade, followed by Infosys, Power Grid, Lupin and Tech Mahindra.

Top Nifty Losers: BPCL closed the day lower by 4.55%, followed by Cairn, NMDC, Sesa Sterlite and Tata Power.

Most of the sectoral indices closed on a negative note. Oil & Gas witnessed perpendicular fall, down by 177 points. Bankex and Auto were hammered by 142 points and 73 points respectively. Mid-caps, small-caps and Metals also closed in the negative territory. However IT and Health Care saw some positive trade, up by 106 points and 83 points respectively.  

All the major Asian markets closed the day on a positive note. Nikkei closed up by 195 points, whereas Hang Seng Index closed up by 81 points. Taiwan and Strait Times also closed in the positive territory.

Buzzer: BPCL was down by more than 4.55% on the bourses today and closed near the technical level of Rs 730. If the stock opens below this level, it may touch the Rs 725/710 mark in the next few sessions.

Nifty Future closed below 8400 mark. If it sustains below this level, it may see more painful scenario.