Sensex, Nifty Tanks, Bankex Falls By 528 Points.
Suparna / 26 Mar 2015
The Indian stock markets witnessed a perpendicular fall after mid-session in today’s trade. The sectoral index like Bankex and IT has been hammered badly and were tanked by 528 points and 303 points respectively. Metals, Oil & Gas, Mid-Caps and Small-Caps also surrounded under selling pressure and were down more than 100 points each.The Nifty was down by 188 points and closed at 8342 level, while Sensex was down by 654 points and closed at 27457 level.
The Indian stock markets witnessed a perpendicular fall after mid-session in today’s trade. The sectoral index like Bankex and IT has been hammered badly and were tanked by 528 points and 303 points respectively. Metals, Oil & Gas, Mid-Caps and Small-Caps also surrounded under selling pressure and were down more than 100 points each. The euphoria came after Brent Crude Oil prices hit five per cent upper limit on MCX. On the other hand, some negative cues came from geopolitical tension. The March F&O expiry broke all the technical support and closed on the lower ends. The Nifty was down by 188 points and closed at 8342 level, while Sensex was down by 654 points and closed at 27457 level.
The advance-decline ratio on NSE was on a negative side, as the day ended with 993 shares in green and 1816 shares in the red zone.
Top Nifty Gainers: BPCL closed the day higher by 1.82 per cent, followed by Bharti Airtel, Ultra Tech Cement, NMDC and Ambuja Cement.
Top Nifty Losers: HDFC closed the day lower by 5.23 per cent, followed by PNB, Wipro, Sesa Sterlite and DLF.
A part from Capital Goods, all the sectoral indices were negative in today’s session. Bankex and IT stocks were the real culprits, tanked by 528 points and 303 points respectively. Auto and Healthcare stocks also dipped around 300 points each. While Metals, Oil & Gas, Mid-caps and Small-Caps closed in negative territory, and were down around 100 points each.
The Asian markets continued with some negative scenario. Nikkei showed some downward movement by 275 points. Hang Seng and Taiwan market also were down by 31 points and 48 points respectively. However, the Shanghai Composite and Straits Time market saw positive movement.
Buzzer: HDFC was down by more than 5.23 per cent on the bourses today and closed down at the technical level of around Rs 1300. If the stock opens below this level, it may touch Rs 1270/1250 mark in the next few sessions.
Nifty Futures has formed bearish engulfing pattern in intraday chart. This is indicating more down side, if its open below 8350 mark.
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