Sensex dips Below 24000: bottom fishing on the rise
DSIJ Intelligence / 21 Jan 2016
The Indian markets struggled for some recovery till mid-session. But unfortunately the benchmark indices wipedout all the gains to close in the negative territory. The Sensex fell by 100 points and ended at 23962. The Nifty took a deep plunge and was down by 32 points at 7276 level. Both the indices closed down by 0.4 percent each.
The Indian markets struggled for some recovery till mid-session. But unfortunately the benchmark indices wipedout all the gains to close in the negative territory. The Sensex fell by 100 points and ended at 23962. The Nifty took a deep plunge and was down by 32 points at 7276 level. Both the indices closed down by 0.4 percent each.
The advance-decline ratio was on the negative side in the closing session. On the NSE, 1265 shares closed in the green, while 1325 shares ended the day in the red.
Top 5 Nifty Gainers: Axis Bank closed the day as the top gainer on the NSE, up by 5.5%. It is followed by Ultra Tech Cement , Ambuja Cement, Bank Of Baroda and Tata Steel, which were the others that closed the day on a positive note.
Top 5 Nifty Losers: Maruti Suzuki was the top loser, down by 4.5%, followed by Tata Motors, Dr Reddy’s Labs, Coal India and Idea Cellular.
Most of the broader indices witnessed a free fall trade. Auto was the top loser for the day, cracked by 309 points. It is followed by the Healthcare and FMCG indices which fell by 236 points and 102 points respectively. Also Mid-Caps, Small-Caps, Metals and FMCG saw a fall of more than 50 points. However Bankex and IT provided some supports to close on a positive mark, up by 226 points and 77 points respectively.
On the Asian front, The Hang Seng ended the day lower by 344 points. Followed by the Nikkei, which was down by 398 points at closure. The Taiwan and KOSPI too ended on a negative note.
Buzzers: The stock of Tata Motors slid after breaking the technical level of 330 and touched an intraday low of Rs 323. If it sustains below this vital support, it may see more selling pressure.
The Nifty Future closed below 7300 level which is negative indicator for further trading session.
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