Volatility is the word of the day as domestic cues took a toll on the sulking markets

The Indian markets witnessed heavy sell-off on Tuesday majorly after mid-session. Markets reacted strongly to the domestic cues as the SC issued a notice to the RBI Governor with respect to debt write off and ordered to furnish details of all corporates whose BAD Loans are more than 500 Cr . The Nifty drifted lower by 114 points at 7048; and the Sensex by 362 points at 23191. Both the indicators were down more than 1.5 percent each. 

The advance-decline ratio is on the negative side. On the NSE, 616 shares are in the green and 2005 shares are in the red. 

Top Nifty Gainers: Adani Port is leading the gainer list so far, up by 4.8%, followed by NTPC, IndusInd Bank, Power Grid and Cairn India. 

Top Nifty Losers: SBI is leading the losers list so far down by 6.8%, followed by Bank Of Baroda, Zee Entertain, PNB and Tata Motors.

All the sectors closed on the red mark. Bankex was the top loser, down by 346 points, followed by Capital Goods, Healthcare and Auto, which also were down by 300 points each. Mid-Caps and Small-Caps also tumbled in this negative scenario, down more than 200 points each.   

The Asian markets traded on a positive note. The Hang Seng was up by 203 points, followed by the Nikkei market, which was up by 31 points. The Straits Times and the KOSPI were trading with nominal gains. 

Buzzer:- Investors are not interested in putting fresh money into banking stocks. Most of the banking stocks crashed more than 3%. SBI (6%); PNB (5.6%); Bank Of Baroda (6.1%); Canara Bank (4.6%); Bank Of India ( 4.3%); ICICI Bank (3.2%)  

Nifty Future continued to tumble,  and broke the 7050 level. Going ahead immediate supports will be around 6980/6920 levels.