Indices Dive On F&O Expiry, Oil & Gas Sink
Suparna / 24 Dec 2014
This was the second consecutive session that the Indian markets witnessed enormous selling. The major fall was seen in Oil & Gas stocks after Cabinet approved ordinance on Insurance Bill and Coal. IT, Health Care and Capital Goods index were hammered more than 100 points each. The Nifty broke its major support level at 8200 mark, down by 92 points whereas Sensex was 297 points down at 27208 in today’s closing buzz.
This was the second consecutive session that the Indian markets witnessed enormous selling. The major fall was seen in Oil & Gas stocks after Cabinet approved ordinance on Insurance Bill and Coal. IT, Health Care and Capital Goods index were hammered more than 100 points each. The Nifty broke its major support level at 8200 mark, down by 92 points whereas Sensex was 297 points down at 27208 in today’s closing buzz.
The advance-decline ratio on NSE was on the negative side as the day ended with 1339 shares in green and 1493 shares in the red zone.
Top Nifty Gainers: UltraTech Cement gained 2.99% in today’s trade, followed by ACC, Sesa Sterlite, Zee Entertainment and Jindal Steel.
Top Nifty Losers: GAIL closed the day lower by 2.87%, followed by BHEL, Lupin, NTPC and ONGC.
Most of the sectoral indices closed on a negative note. Health Care and IT stocks were snapped in today’s session, down by more than 140 points each. Oil & Gas also closed in the negative territory, down by around 136 points. Bankex, Capital Goods and Auto closed in the negative territory. However Mid-Caps and Small-Caps provided some support in today’s trade, nominally up by 15 points and 2 points respectively.
All the major Asian markets closed the day on a positive note. The Nikkei index witnessed positive closing and was up by 219 points. Hang Seng and Taiwan Index closed in the green territory, up by 15 points and 88 points respectively. Shanghai Composite market closed negative in today’s session.
Buzzer: GAIL was down by more than 2.5% on the bourses today and closed near the technical level of Rs 435. If the stock opens below this level, it may touch the Rs 420/410 mark in the next few sessions.
Nifty Future gave bearish indicator as it closed below 8200 mark. Going ahead, the crucial supports level will be 8150/8120.
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