Dalal Street takes a cue from European markets, Nifty shreds over 100 points
DSIJ Intelligence / 08 Feb 2016
The Indian markets have witnessed a perpendicular fall with heavy volume in last hour of today’s sessions. As per the scenario this situation might have arisen because of the Europe markets, as index like FTSE, CAC and DAX have dipped more than 2 percent each. Today, the most affected were the IT, Auto and Healthcare, as they witnessed basket selling and crashed by more than 150 points each. Having fallen by 329 points, the Sensex closed the day at 24287.The Nifty ended the day lower by 101 points at 7387.
The Indian markets have witnessed a perpendicular fall with heavy volume in last hour of today’s sessions. As per the scenario this situation might have arisen because of the Europe markets, as index like FTSE, CAC and DAX have dipped more than 2 percent each. Today, the most affected were the IT, Auto and Healthcare, as they witnessed basket selling and crashed by more than 150 points each. Having fallen by 329 points, the Sensex closed the day at 24287.The Nifty ended the day lower by 101 points at 7387.
The market breadth ended on a negative note at the end of the day. On the NSE, 1193 shares closed in the green, while 1476 shares ended the day in the red.
Top Nifty Gainers: Bank Of Baroda was the highest gainer today and appreciated by 2.9%. It was followed by SBI, Axis Bank, Bosch and Bharti Airtel.
Top Nifty Losers: Tata Motors closed the day lower by 4.0%. It was followed by IndusInd , Vedanta, Kotak Mahindra Bank and ITC.
12 of the 13 sectors ended the day with losses. IT was the top loser as it closed lower by a hefty 218 points. Healthcare and Auto also ended the day significantly lower. They lost out more than 150 points each. Bankex, Oil & Gas, Consumer Durables, Mid-caps and small-caps also were surrounded by a negative scenario.
On the contrary, most of the Asian markets closed for the day. While the Nikkei was the top gainer as it closed higher by 184 points.
Buzzer: The stock of Tata Motors lost 4% today as the stock closed below the technical level of Rs 325, which is indicative of a further down ward move ahead.
The Nifty closed below its vital support level of 7400 today. If it opens and sustains below this level, it may see a further decline.
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