Nifty Below 8800 Mark, Sensex Ends At 29000.

The Indian markets witnessed choppy session today after Reserve Bank Of India kept its key policy rates unchanged. This resulted in Bank index to nosedive trade and closed down by 593 points. This is despite SLR cut by 50 bps.  Healthcare and Auto indices too closed in the red mark, down around 140 points each. However, Oil & Gas stocks managed to recover from the lower end and index was up by around 200 points. The Nifty closed down by 40 points at 8756 and the Sensex ended the day at 29000, down by 122 points.

The advance-decline ratio on NSE was on the negative side as the day ended with 1324 shares in green and 1542 shares in the red zone.

Top Nifty Gainers: Sesa Sterlite gained 6.31% in today’s trade, followed by Cairn India, Bharti Airtel, Reliance and ONGC.

Top Nifty Losers: PNB closed the day lower by 7.79%, followed by Axis Bank, Tata Power, Bajaj Auto and Kotak Mahindra.

The sectoral indices closed on a mixed note. Banking stocks saw a deep cut in today’s session, down by 593 points. Followed by, Healthcare and Auto index down by more than 130 points each. While Mid-Cap and Small-Caps also closed in negative territory, down by 30 points each. However Oil & Gas index saw a good up move by 200 points. While Metals and FMCG were shown upward move around 80 points each.

Major Asian markets closed the day on a mixed note. Nikkei was down by 222 points. However Hang Seng and Taiwan closed in the positive territory, up by 70 points and 61 points respectively. While Shanghai Composite closed in the positive note in today’s session, up by 77 points.

Buzzer: Sesa Sterlite was up more than 6.31% on the bourses today and closed near the technical level of Rs 200. If the stock opens above this level, it may touch the Rs 225/240 mark in the next few sessions.

Nifty Future closed around the crucial support of 8800 level. If its sustain below this level we may see 8750/8705 levels.