Markets Choppy, End Lower

After a massive buying seen in  yesterday’s trade the  Indian markets witnessed some directionless trades for today’s session. The traders preferred to book profits in Banking, Capital Goods and Healthcare index. The Nifty ended down by 43 points at 8589 and Sensex was down by 134 points at 28370. The indices ended the day lower by 0.51 and 0.47 percent respectively.

The advance-decline ratio ended on the positive side. On the NSE, 1533 shares closed in green, while 1311 shares were in the red.

Top 5 Nifty Gainers: Cairn India closed the day with the top gains, up by 6.44%. Tata Motors, DrReddys Lab, M&M and Maruti Suzuki were among the other key gainers.

Top 5 Nifty Losers: Lupin was the top loser, down by 5.2%, followed by Bajaj Auto, Tata Steel, Zee Entertain and Tech Mahindra.

By the end of the day, 8 out of 13 sectors remained in the red zone. Banking was the top loser, down by 155. Capital Goods and Healthcare were down by 125 points and 100 points respectively. However Consumer Durables and Auto were shown good up moves, up by 177 points and 94 points respectively. Mid-Caps and Small-Caps closed in mixed note. 

The Asian markets closed on a positive note. The Hang Seng market was the top gainer, up by 116 points. Nikkei also ended higher by 90 points. KOSPI and Straits Times ended with marginal gains.

Buzzers: The stock of Tata Motors witnessed massive amount of buying in the technical level of 400. If it sustains above this level one may see more up move around 410/420 in next few trading sessions.

The Nifty index was strongly volatile on both sides. The 8550 level will be a strong support level, while on the other hand 8650 will be the major resistance.