Choppy indices end on a depressing note

The Indian Markets witnessed a massive amount of choppy action in today’s session. The index dipped after opening session, struggled to recover but closed on a negative note. The Nifty ended  25 points down at 7536; and the sensex ended 81 points down at 24772.

The advance–decline ratio ended on the negative side in closing session. On the NSE, 829 shares closed in the green, while 1854 shares ended the day in the red.

Top Nifty Gainers:- Infosys closed the day with the top gain on NSE, up by 4.5%; followed by Lupin, Asian Paints, Tech Mahindra and BPCL.

Top Nifty Losers:- Axis Bank closed the day being the top loser on NSE down by 3.9%; followed by Tata Steel, BHEL, Tata Motors and Hindalco.

On the sectorial view 10 out of 13 ended in the red. Bankex and Capital Goods were top losers for the day ending down by 301 points and 230 points; followed by Auto and Consumer Durables that were down by 222 points and 129 points. Mid-Caps and Small-Caps closed down more than 100 points. However IT, Healthcare and FMCG closed in positive territory.  

The Asian markets remain on a mixed note. The Nikkei market ended on a negative note, down by 474 points. The Hang Seng market was also down by 117 points. The Straits Times and KOSPI ended on a negative note. On other side Shanghai Composite closed in the positive, up by 57 points.

Buzzers: :- Axis Bank the stock fell more than 3.9% and touched its 52 week low at Rs 388.80. In last few trading sessions we had seen a couple of bounce backs from Rs 400 level, but in today’s trading session the stock broke all its technical levels.

The Nifty index took a vital support on the technical level of 7500. If it opens below this level, it may see more weakness.