Indices Fall, Nifty Below 8755 Mark

The Indian markets witnessed heavy fall after mid-market session. Most of the Investors and Traders looks to reduce their leverage position ahead of budget. All the sectoral indices end on the red territory. Consumer Durables, Bankex and Oil & Gas has been hammered badly, down around 200 points each. Auto, Health Care and FMCG also witnessed perpendicular fall, down more than 100 points each. The Nifty broke its crucial support and closed below 8755 mark, down by 78 points while Sensex was down by 256 points at 28975 mark at the closing bell. 

The advance-decline ratio on NSE was a negative side, as the day ended with 1198 shares in green and 1706 shares in the red zone. 

Top Nifty Gainers: Power Grid Corporation closed the day higher by 1.73 per cent, followed KotakMahindra, Sesa Sterlite, TCS and M&M.

Top Nifty Losers: Zee Entertainment closed the day lower by 3.96 per cent, followed by NMDC, DLF, Lupin and Reliance.

All the sectoral indices were negative in today’s session.Consumer Durables, Bankex and Oil & Gas stocks drag the indices on the lower side, down around 200 points each. While IT, Auto and FMCG stocks also were surrounded in profit booking, down more than 100 points each. Mid-Capsand Small-Caps index closed below its vital support, down by  90 points and 36 points respectively.

All the Asian markets were nominally positive in today’s trade. The Nikkei market saw an up moveby 134 points. While the Hang Seng and KOSPI markets closed up by 4 points and 6 points respectively. However Taiwan Index and Shaghai Composite remains closed today. 

Buzzer: DLF was down by more than 3.1 per cent on the bourses today and closed at the technical level around Rs 147. If the stock opens below this level, it may touch Rs 140/135 mark in the next few sessions.

Nifty Futures closed around its crucial support, which is at 8750 mark. If it break 8700 level may see more profit booking trade.