Markets Continue In Bears Grip.

Indian markets continued to drift lower from last couple of sessions. Today Capital Goods stocks saw perpendicular fall as closed down around 400 points. While Metals, Bankex and Auto also closed in negative territory of around 250 points each. In today’s trading session, the Nifty ended 97 points down at 8340 while Sensex closed 322 point down at 27797.

The advance-decline ratio on NSE was on the negative side as the day ended with 902 shares in green and 2043 shares in the red zone.

Top Nifty Gainers: M&M gained 1.7% in today’s trade, followed by Dr Reddys Labs, Sun Pharma, HCL Tech and HDFC Bank.

Top Nifty Losers: Sesa Sterlite closed the day lower by 4.92%, followed by ONGC, Tata Power, Tata Steel and NTPC.

All the sectoral indices closed on a negative note. Capital Goods was under pressure and closed around 400 points lower than previous closing. Followed by Metals, Bankex and Auto also were closed in negative territory down around 250 points each. Mid-Caps and Small-Caps also tanked by 180 points and 163 points respectively. Even HealthCare, FMCG and IT also closed in negative territory.    

All the major Asian markets closed the day on a negative note. The Hang Seng index witnessed negative closing by 561 points, followed by Nikkei closed in down by 122 points. While KOSPI and Shanghai Composite Index closed in negative territory.    

Buzzer: Sesa Sterlite was down by more than 5% on the bourses today and closed near the technical level of Rs 220. If the stock opens below this level, it may touch the Rs 200/180 mark in the next few sessions.

Nifty Future closed below its vital support level which was around 8440. If its sustain below this level we may see some more painful session.