Indices Ends On Negative Note, Metal Drags

The Indian stock markets saw some sideways trade but ended on negative note. In today’s session Metal index was on the focus, as stocks like Sesa Sterlite, Hindalco and JSW Steel were tanked from their respective support levels. Capital Goods and Oil & Gas indices also had some profit booking and closed in negative territory. The Nifty was down by 14 points and 8633 level, while Sensex was down by 65 points and closed at 28437 level.

The advance-decline ratio on NSE was on a negative side, as the day ended with 1031 shares in green and 1858 shares in the red zone.

Top Nifty Gainers: DLF closed the day higher by 4.38 per cent, followed Asian Paints, Zee Entertainment, Jindal Steel and HCL Tech.

Top Nifty Losers: Sesa Sterlite closed the day lower by 5.31 per cent, followed by Hindalco, Cairn India, Bharti Airtel and NTPC.

The sectoral indices were positive in today’s session. IT index was an outperformer and was up by 135 points. While Bankex, Healthcare and Consumer Durables stocks also were positive, and were up around 50 points each. However, Metals saw some correction and was dipped by 144 points. Capital Goods and FMCG indices also closed below their supports levels, and were down by 109 points and 71 points respectively. Mid-Caps and Small-Caps index also ended on negative territory.

Most of the the Asian markets ended on positive scenario. The Hang Seng market saw upward momentum by 126 points. Shanghai Composite and Straits Time market were up by 75 points and 13 points respectively. Nikkei and Taiwan index were closed in the red territory.

Buzzer: Sesa Sterlite was down by more than 5 per cent on the bourses today and closed up at the technical level of around Rs 185. If the stock opens below this level, it may touch Rs 180/170 mark in the next few sessions.

The Nifty futures consolidate in the narrow range of around 8650-8680 level. Tomorrow’s opening may provide proper direction.