Bears maintain their grip
DSIJ Intelligence / 12 Jan 2016
The Nifty ended lower by 53 points at crucial support level of 7510; and Sensex was 143 points down at 24682. Most of the sectoral indices ended in the red, with Bankex taking the sharp plunge by 320 points.
The bears have been hammering the indices for last few trading sessions and the Indian markets witnessed a deep cut in the closing session today. The Nifty ended lower by 53 points at 7510; and Sensex was 143 points down at 24682. The indices lost 0.71 and 0.58 percent respectively.
The advance-decline ratio ended on the negative side. On the NSE, 939 shares closed in green, while 1849 shares ended the day in the red.
Top 5 Nifty Gainers: NTPC closed the day with the top gains, up by 2.54%. Wipro, M&M, Adani ports and HUL were among the others that closed higher.
Top 5 Nifty Losers: Bank Of Baroda was down by 3.31%, followed by PNB, Yes Bank, Idea Cellular and Hindalco.
Most of the sectoral indices ended in the red. Bankex was the top loser, down by 320 points. Mid-Cap and Small-Caps also dropped more than 100 points each. Auto, IT, Metals and Oil & Gas also plunged in the range of 50-70 points. However Consumer Durables and Healthcare managed to close in positive territory.
The Asian markets, however, closed on a negative note. The Nikkei was the top loser, down by 479 points, and Hang Seng was down by 176 points. While Straits Times and KOSPI also closed with a red mark. However Shanghai Composite saw nominal up move by 6 points.
Buzzer: Bank Of Baroda plummeted by over 3.3%. The stock made a new 52-week low of Rs 133.70 in today’s session.
The Nifty has closes around its vital support level of 7500. If the index opens below this level for tomorrow’s session, it may fall below 7440 mark.
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