Indices reeling under sharp selling, Nifty below 7000 mark
DSIJ Intelligence / 25 Feb 2016
On the third Rail budget of NDA government, the Indian markets still yet continued to disappoint the investors. The indices have been reeling under sharp selling pressure from last three consecutive days. Mid-Caps and smallcaps tumbled and both were down more than 100 points. The Nifty was down by 48 points; and the Sensex was down by 112 points respectively.
On the third Rail budget of NDA government, the Indian markets still yet continued to disappoint the investors. The indices have been reeling under sharp selling pressure from last three consecutive days. Mid-Caps and smallcaps tumbled and both were down more than 100 points. The Nifty was down by 48 points; and the Sensex was down by 112 points respectively.
The advance-decline ratio ended in the negative today. On the NSE, 865 shares closed in green; while 1583 shares ended the day in red.
Top 5 Nifty Gainers: ONGC closed with highest gains, up by 3.2%. Sun Pharma, HDFC, Idea Cellular and Coal India were the others trading higher.
Top 5 Nifty Losers: Power Grid was down by 5.6% today, followed by Yes Bank, SBI, GAIL and ACC.
11 of the 13 sectors ended in the green. Bankex stocks were down by 261 points. Auto and Capital Goods lost around 200 points each. Mid-Caps and Small-Caps were snapped by 100 points. However Metal and Healthcare index closed on positive note.
The Asian markets closed on a positive note. The Nikkei market was the top gainer, up by 224 points and Taiwan ended 83 points higher. However Hang Seng and Shanghai Composite closed on a negative note.
Buzzers: Power Grid the stock turned volatile after breaking the technical level of Rs 135. If it sustains below this level, it may see Rs 125/120 levels ahead.
Nifty Futures have broken their crucial support after breaking the technical level of 7000 mark. If it opens below this level, it may see a further downward move.
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