Bears on a rampage; SBI down by 4.8%
DSIJ Intelligence / 10 Feb 2016
The Indian markets seemed to know only one direction today, i.e. downward, leaving traders and investors just watching new 1 year low.The Nifty index ended down by 82 points at 7215 mark; and Sensex closed 262 points lower at 23758.
The Indian markets seemed to know only one direction today, i.e. downward, leaving traders and investors just watching new 1 year low. The markets witnessed an overwhelming sell-off in all the segments. The Nifty index ended down by 82 points at 7215 mark; and Sensex closed 262 points lower at 23758.
The advance-decline ratio ended on the negative side today. On the NSE, 638 shares closed in green, while 2009 shares were in the red.
Top Nifty Gainers: HCL Tech stayed on top of the index for today, up by 2.09%. BPCL, Coal India, Ultra Tech and Power Grid also closed higher.
Top Nifty Losers: PNB closed the day as the top loser, down by 8.8%, followed by Cairn India, Tata Motors, Bank Of Baroda and SBI.
The sectoral indices all closed in the red. Bankex was the top loser, down by 343 points. Healthcare and Auto lost 246 points and 193 points respectively. Both FMCG and Capital Goods also crashed around 246 points and 78 points respectively. Mid-Caps and Small-Caps dipped around 100 points for the day.
The China market closed for today’s session. While Nikkei was the loser, down by 372 points. However European markets like DAX, FTSE and CAC were trading in positive territory.
Buzzer: Tata Motors was the strongest loser among the 50 NSE stocks. The scrip made a low of Rs 288.25, and closed at Rs 290, its lowest level since past few weeks. If it hovers around these levels, it may see new 52-week low.
The Nifty Futures have given a bearish pattern after breaking 7250 mark on the daily chart, indicative of a further decline.
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