Range Bound Indices Ends On Negative Note

The Indian stock markets witnessed range bound trading in today’s session. The sectoral index like Capital Goods and Metals were in the profit booking scenario and were down by 279 points and 93 points respectively. Bankex, Mid-Caps and Small-Caps also followed negative momentum, and were down by 60 points each. Nifty did not sustained on highs, and was down by 12 points and closed at 8530 level, while Sensex was down by 49 points and closed at 28192 level. 

The advance-decline ratio on NSE was on a negative side, as the day ended with 980 shares in green and 1861 shares in the red zone.

Top Nifty Gainers: HCL Tech closed the day higher by 3.79 per cent, followed by DLF, Cairn India, Tata Motors and ICICI Bank.

Top Nifty Losers: PNB closed the day lower by 3.83 per cent, followed by NTPC, GAIL, NMDC and L&T.

Most of the sectoral indices were negative in today’s session. Capital Goods and Metal stocks were surrounded under massive amount of selling pressure, and were down by 279 points and 93 points respectively. Bankex, Mid-Caps and Small-Caps index also were negative around 60 points each. However, Healthcare, Auto and IT closed in positive territory, and were up around 50 points each.

The Asian markets continued with some positive scenario. The Hang Seng market showed some up move by 32 points. Nikkei and Straits Times market too were up by 32 points and 5 points respectively. The Taiwan market saw negative movement.

Buzzer: PNB was down by more than 3.83 per cent on the bourses today and closed down at the technical level of around Rs 155. If the stock opens below this level, it may touch Rs 146/140 mark in the next few sessions.

Since last couple of days, the Nifty futures is hovering around 8550 level. This level will act as a pivot level for further trade.