Indices Continue with Profit Booking Trade, Sensex Below 25500 Mark
DSIJ Intelligence / 08 Dec 2015
The Indian markets continued to witness profit booking trade for the last couple of sessions. Today, the most affected were the stocks of Metals, Capital Goods and Healthcare, as they witnessed basket selling and crashed by around 150 points each. Having fallen by 116 points, the Sensex is trading the day at 25413.The Nifty ended the day lower by 26 points at 7739.
The Indian markets continued to witness profit booking trade for the last couple of sessions. Today, the most affected were the stocks of Metals, Capital Goods and Healthcare, as they witnessed basket selling and crashed by around 150 points each. Having fallen by 116 points, the Sensex is trading the day at 25413.The Nifty ended the day lower by 26 points at 7739.
The market breadth ended on a negative note at the end of day. On the NSE, 1010 shares closed in the green, while 1654 shares ended the day in red.
Top Nifty Gainers: HCL Tech was the highest gainer today and appreciated by 2.9%. It was followed by Tata Motors, Zee Entertain, Bajaj Auto and ITC
Top Nifty Losers: Cairn India closed the day lower by 4.3%. It was followed by Vedanta, GAIL, ONGC and Hindalco.
10 of the 13 sectors ended the day with losses. Metal was the top loser as it closed lower by a hefty 187 points. Healthcare and Capital Goods also ended the day significantly lower. They lost out more than 150 points each. Oil & Gas, Bankex , Mid-caps and Small-caps were all surrounded in negative scenario.
On the contrary, the Asian markets closed on a negative note today. The Hang Seng was the top loser as it closed lower by 298 points. The Nikkei ended higher by 205 points. The Shanghai Composite and Taiwan also ended on a negative note.
Buzzer: Cairn India lost 4.3% today, the stocks fell below the technical level of Rs 130, which is indicative of more negative move ahead.
If the Nifty closes below it’s vital support level of 7750 today it will be indicative of a more painful scenario ahead.
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