Indices continue with Profit Booking Trade, Nifty Holds 8000 mark

The Indian markets continued to witness profit booking trade for the last couple of sessions. Today, the most affected were the stocks of Capital Goods and Healthcare, as they witnessed basket selling and crashed by more than 150 points each. Having fallen by 150 points, the Sensex is trading the day at 26484.The Nifty ended the day lower by 36 points at 8029. 

The market breadth ended on a negative note at the end of the day. On the NSE, 911 shares closed in the green, while 1654 shares ended the day in red.

Top Nifty Gainers: Tech Mahindra was the highest gainer today and appreciated by 2.6%. It was followed by M&M, Ambuja Cement, Ultra Tech Cement and Yes Bank

Top Nifty Losers: Bajaj Auto closed the day lower by 4.9%. It was followed by Hindalco, Vedanta, Tata Steel and HDFC.

11 of the 13 sectors ended the day with losses. Capital Goods was the top loser as it closed lower by a hefty 213 points. Healthcare and Metals also ended the day significantly lower. They lost out more than 150 points each. Oil & Gas, Consumer Durables, Mid-caps and small-caps also were surrounded in negative scenario. 

On the contrary, the Asian markets closed on a negative note today. The Nikkei was the top loser as it closed  lower by 399 points. The Hang Seng ended lower by 270 points. The Shanghai Composite and Straite Times also ended on a negative note.

Buzzer: Bajaj Auto lost 4.8% as the company announced poor sale number. The stock below the technical level of Rs 2450, is indicative of a more negative move ahead.

If the Nifty closes below its vital support level of 8000 today, this will indicate more downside ahead.