Choppy Day, Ends On Negative Note

The Indian markets saw massive volatile session today. Index trades on the both side as it’s recovered from lower end. The sectorial indices like IT and Oil & gas were hammered from their crucial support levels and closed down by 199 points each.  However Capital Goods stocks provide handsome support and index was up by 344 points. The Nifty ended with red mark, down by 34 points at 8328 and Sensex down by 114 points at 27573.

The advance-decline ratio ended on the positive side in the closing session. On the NSE, 1529 shares closed in green, while 1283 shares ended the day in red.

Top 5 Nifty Gainers: BHEL closed the day with the top gains on the NSE, up by 3.3%. L&T, Hero Motocorp, hindaco and ACC were the others that ended higher.

Top 5 Nifty Losers: BPCL was the top loser, down by 5.4%, followed by Vedanta, TCS, Bajaj Auto and Infosys.

On the sectoral view 9 Out Of 13 sectors closed in red. IT and Oil & Gas indices were the top losers for the day, down by 199 points each. Followed by Auto and FMCG were down by 105 points and 44 points. Mid-Caps and Small-Caps were down in the range of 30 points each. However Capital Goods saw good strength up more than 344 points. Bankex and Healthcare also closed in positive territory.

In the Asian markets, The Hang Seng closed up by 876 points. Followed by Nikkei ended higher by 117 points. The Shanghai Composite and KOSPI ended on a positive note.

Buzzers: BHEL surge by more than 3.3% and made intraday high at 265.80. The scrip crossed its physiological level of Rs 265 and closed around its major hurdle. Going ahead if stock breaks 275 level may see more up move.

The Nifty Future hold and closed above 8350 level indicating vital support around the technical level of 8300.