Bears Dominate, Auto Tanks By 2.7%
Suparna / 06 Feb 2015
The Indian markets extend their profit booking in today’s trading session. Auto index started with the negative scenario, as Tata Motors tanked after disappointing third quarter numbers. This was followed by Banking and Healthcare index, which broke all the vital support levels and were down by more than 250 points. Only IT and FMCG index ended on the positive note, and were up by 102 points and 68 points respectively. The Nifty closed 50 points down at 8661 and the Sensex ended the day at 28717, down by 133 points.
The Indian markets extend their profit booking in today’s trading session. Auto index started with the negative scenario, as Tata Motors tanked after disappointing third quarter numbers. This was followed by Banking and Healthcare index, which broke all the vital support levels and were down by more than 250 points. Only IT and FMCG index ended on the positive note, and were up by 102 points and 68 points respectively. The Nifty closed 50 points down at 8661 and the Sensex ended the day at 28717, down by 133 points.
The advance-decline ratio on NSE was on the negative side as the day ended with 860 shares in green and 2016 shares in the red zone.
Top Nifty Gainers: Cairn India gained 2.87% in today’s trade followed by HDFC, NMDC, Infosys and Sesa Sterlite.
Top Nifty Losers: Tata Motors closed the day lower by 5.02%, followed by BHEL, DLF, Sun Pharma and Jindal Steel.
Most of the sectoral indices closed on a negative note. Auto stocks saw a perpendicular fall, down by 541 points. This was followed by Bankex and Healthcare index that were hammered down by more than 250 points each. Mid-Caps, Small Caps, Capital Goods and Consumer Durables also closed in negative territory down by more than 100 points each. However IT and FMCG index continue to support the indices and were up by 102 points and 68 points respectively.
The Asian markets closed the day on a mixed note. Nikkei was up by 143 points. While Straits Times closed in the positive territory, up by 24 points. However the Hang Seng saw some profit booking in today’s session and closed the day down by 86 points.
Buzzer: Infosys was up more than 1.67% on the bourses today and closed near the technical level of Rs 2230. If the stock opens above this level, it may touch the Rs 2245/2260 mark in the next few sessions.
Nifty Future closed below the crucial support level of 8750. If it sustain below this level we may see more painful scenario around 8680 mark.
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