Sensex Tanks From a Life High

After a fresh life time high at 30024 level, the Indian markets witnessed nosedive trade with heavy amount of selling pressure. The Sensex tanked around 500 points in the closing buzz, as the Asian markets were surrounded in negative sentiments. The Banking stocks lost all their morning gains and Index was closed deep by 405 points. Mid-Caps and Small-Caps closed in negative territory. The Nifty tanked and closed around its crucial support level, down by 73 points and closed at 8922 level while Sensex was down by 213 points and closed at 29380 level. 

The advance-decline ratio on NSE was a negative side, as the day ended with 1004 shares in green and 1896 shares in the red zone.

Top Nifty Gainers: Sun Pharma closed the day higher by 6.71 per cent, followed by DLF, ITC, Bharti Airtel and HCL Technologies.

Top Nifty Losers: Sesa Sterlite closed the day lower by 4.35 per cent, followed by NMDC, Bank of Baroda, Hindalco and Cairn india.

The sectoral indices were negative in today’s session. Bankex stocks saw a perpendicular fall, down by 405 points. Metals and Auto stocks were down by more than 150 points. Mid-Caps and Small-Caps closed in negative territory, down by more than 100 points. However, Healthcare and FMCG index remain in green note, up by 204 points and 72 points respectively.

The Asian markets were surrounded under selling pressure. The Hang Seng market dives by 237 points and Nikkei market was down by 111 points. The Taiwan and Shanghai Composite closed with some marginal gains, up by 15 points each.   

Buzzer: Sesa Sterlite was down by more than 4.3 per cent on the bourses today and closed down at the technical level of around Rs 215. If the stock opens below this level, it may touch Rs 200/190 mark in the next few sessions.

Nifty Futures witnessed massive amount of volatility on both the sides, and closed around its crucial support level at 8950. Going ahead, 8880/8860 will be the immediate vital support levels.