Markets remain choppy, banks negative
DSIJ Intelligence / 08 Mar 2016
The Indian markets are witnessing choppy trades in first session of march second week. Indices like Bankex and IT have shown some profit booking, the Nifty ended down by 0.05 points at 7485; and Sensex was up 12 points at 24659. The indices ended the day on a flattish note.
The Indian markets are witnessing choppy trades in first session of march second week. Indices like Bankex and IT have shown some profit booking, the Nifty ended down by 0.05 points at 7485; and Sensex was up 12 points at 24659. The indices ended the day on a flattish note.
The advance-decline ratio ended equally on both the sides. On the NSE, 1326 shares closed in green, while 1325 shares were in the red.
Top 5 Nifty Gainers: Cairn India closed the day with the top gains, up by 6.6%. Hindalco, Vedanta, GAIL and Lupin were among the other key gainers.
Top 5 Nifty Losers: Bank Of Baroda was the top loser, down by 4.7%, followed by SBI, HUL, Maruti Suzuki and HCL Tech.
By the end of the day, 5 out of 13 sectors remained in the red zone. Bankex was the top loser, down by 224. Capital Goods and IT were down by 36 points and 54 points respectively. However Metals and Oil & Gas ended on a positive note, up around 125 points. Consumer Durables and FMCG also witnessed good up moves.
The Asian markets closed on a negative note. The Hang Seng market was the top loser, down by 148 points. Nikkei also ended lower by 128 points. However Taiwan and Shanghai Composite ended with marginal gains.
Buzzers: Bank of Baroda crashed by over 4.7% today and made an intraday low of Rs 140.60; below the technical level of Rs 140 , it may see a further downfall.
The Nifty index was strongly volatile on both sides. The 7450 level will be immediate support level; on the other hand 7550 will be major hurdle for the next trading session.