Sensex; Nifty closed lower: Auto & IT drag
DSIJ Intelligence / 01 Apr 2016
The Indian markets witnessed a profit booking trade in the first session of FY 2016-2017. The most affected were the stocks of Auto; IT; and Oil & gas, as they witnessed major selling and were down more than 100 points each. Having fallen by 72 points, the Sensex ended the day at 25269.The Nifty ended the day lower by 25 points at 7713.
The Indian markets witnessed a profit booking trade in the first session of FY 2016-2017. The most affected were the stocks of Auto; IT; and Oil & gas, as they witnessed major selling and were down more than 100 points each. Having fallen by 72 points, the Sensex ended the day at 25269.The Nifty ended the day lower by 25 points at 7713.
The market breadth ended on a positive note at the end of the day. On the NSE, 1724 shares closed in the green, while 810 shares ended the day in red.
Top Nifty Gainers: Bank of Baroda was the highest gainer today and appreciated by 3.9%. It was followed by ITC, ACC, BHEL and L&T
Top Nifty Losers: Bharti Airtel closed the day lower by 4.3%. It was followed by Bosch, Idea Cellular, TCS and Tech Mahindra.
5 of the 13 sectors ended the day with losses. Auto was the top loser as it closed lower by a hefty 118 points. IT and Oil & Gas also ended the day significantly lower. They lost out more than 100 points each. However Capital Goods and Consumer Durables were provided some support, and closed higher by around 159 points and 52 points respectively. Mid-caps and Small-caps also were nominally on the positive side.
On the contrary, Asian markets closed on a negative note today. The Nikkei was the top loser as it closed down by 594 points. The Hang Seng ended lower by 277 points. The Taiwan and Straits Times also ended on a negative note.
Buzzer: Jindal Steel gained 5.2% today and stock closed above the technical level of Rs 63, which is indicative of a more positive move ahead.
The Nifty closed at 7750 level. Going ahead, immediate support will be 7670-7650 levels.
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