Bears On A Rampage On D-Street
DSIJ Intelligence / 11 Jun 2015
The Indian equity markets seemed to know only one direction today, i.e. downward, leaving investors and market watchers watching in shock. The Nifty ended the day down by 159 points and Sensex closed 469 points lower at 26370.
The Indian markets saw a landslide fall in today’s session. The Bank Nifty and Auto index tanked and hit their lowest mark in last few months. The markets also witnessed an overwhelming sell-off from the FII side. The Nifty ended the day down by 159 points and Sensex closed 469 points lower at 26370. Both the indices tanked more than 1.5 %.
The advance-decline ratio ended on the negative side today. On the NSE, 782 shares closed in green, while 1864 shares were in the red.
Top Nifty Gainers: Vedanta stayed on top of the index for today, up by 1.62%. Tech Mahindra also closed on higher note.
Top Nifty Losers: Tata Power closed the day as the top loser, down by 5.21%, followed by Idea Cellular, Asian Paints, Kotak Bank and BOSCH.
All the sectoral indices closed in red today. Bankex and Auto were the top loser, down around 450 points each. Capital Goods and Consumer Durables lost 300 points and 200 points respectively. Both Mid-caps and Small-Caps also crashed around 180 points. Oil & Gas , Metals, FMGC and Healthcare also witnessed a fall in today’s trade.
The Asian markets closed on a positive note today. Nikkei was the top gainer, up by 336 points and Hang Seng closed positive by 220 points. Shanghai Weighted and Straits Times also ended on higher note.
Buzzer: Tata power was the strongest loser among the 50 NSE stocks. The scrip made a low of Rs 69.65, and closed at Rs 70. If it breaks 52 week lower level, which is 68.40, we may see more weakness.
The Nifty Futures have given a bearish pattern on the daily chart after broke the technical level of 8000. Indicating more downward movement.
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