Bears stand tall as investors are left groping in the volatile market
DSIJ Intelligence / 03 Feb 2016
The bears have been hammering the indices for 2 consecutive days and the Indian markets witnessed a deep cut in today’s closing session as well. All of the sectoral indices ended in the red, with Capital Goods, Auto and Bankex taking the strongest beating. The Nifty ended lower by 93 points at 7361; and Sensex was 315 points down at 24223. The indices lost 1.26 and 1.29 percent respectively.
The bears have been hammering the indices for 2 consecutive days and the Indian markets witnessed a deep cut in today’s closing session as well. All of the sectoral indices ended in the red, with Capital Goods, Auto and Bankex taking the strongest beating. The Nifty ended lower by 93 points at 7361; and Sensex was 315 points down at 24223. The indices lost 1.26 and 1.29 percent respectively.
The advance-decline ratio ended on the negative side. On the NSE, 584 shares closed in the green, while 2083 shares ended the day in the red.
Top 5 Nifty Gainers: HUL closed the day with the top gains, up by 2.69%. Yes Bank, TCS and Zee Entertain were among the others that closed higher.
Top 5 Nifty Losers: Vedanta was down by 5.01%, followed by BHEL, NTPC, Tata Steel and ICICI Bank.
All of the sectoral indices ended in the red. Capital Good was the top loser, down by 345 points, Auto and Bankex also dropped around 250 points each. IT, Metal, Healthcare and Oil & Gas were lower by more than 100 points each. Mid-Caps and Small-Caps were both down by 242 points and 133 points respectively.
The Asian markets also closed on a negative note. The Nikkei was the biggest loser, down by 559 points, and Hang Seng was down 455 points. Taiwan and KOSPI also closed in negative territory.
Buzzer: Vedanta the stock plummeted by over 5%. The stock made a new 52-week low of Rs 60.35 in today’s session.
The Nifty has broken and closed below its strong support of 7400. If the index opens below this level for tomorrow’s session, it may touch 7330-7280.
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