Bears On The Upper Hand, Indices Fall By 1%

The Indian markets witnessed heavy sell-off in mid-session. The sectoral indices like Healthcare, Oil & Gas and Bankex were hammered badly. Mid-caps and Small-Caps were also surrounded by the negative scenario. The Nifty failed by 83 points at 7831 and the Sensex by 219 points at 25901. Both the indicators were down more than 1 percent each.

The advance-decline ratio is on the positive side. On the NSE, 1037 shares are in the green and 1308 shares are in red.

Top Nifty Gainers: Bajaj Auto is leading the gainer list so far up by 2.6%, followed by Hero Motocorp, Maruti Suzuki, Zee Entertain and Axis Bank.

Top Nifty Losers: Adani Ports is leading the losers list so far down by 4.3%, followed by Dr Reddy’s Lab, ONGC, Cairn India and Sun Pharma.

All the sectors were trading in red apart of  Auto and Consumer Durables. Healthcare was the top loser down by 271 points. Followed Oil & Gas and Bankex were down by 240 points and 160 points respectively. Mid-Caps and Small-Caps also were tumbled in this negative scenario down by 110 points and 25 points respectively.   

The Asian markets were also trading on the negative note. The Hang Seng is down by 342 points followed by the Taiwan market down by 105 points. The Straits Times and KOSPI were trading with nominal loss.

Buzzer:- Investors are not interested in putting fresh money into Healthcare and Oil & Gas stock. Most of the stocks crashed more than 3%. Dr Reddy’s lab (4.4%), Sun Pharma (3.2%),ONGC (4.2%), Hind Petro (5.2%), BPCL( 3%)