Indices crack; Nifty letdown by 155 points
DSIJ Intelligence / 05 Apr 2016
The Indian markets tanked majorly after mid-market session despite of RBI cutting repo rate by 25 bps. Benchmark index fell on weak global cues, and Banking and Auto index got hammered badly. The Sensex tumbled more than 500 points from the day’s opening bell, quoting 24883. The Nifty ended 155 points down at 7603. Both the indices closed lower, more than 2 per cent each.
The Indian markets tanked majorly after mid-market session despite of RBI cutting repo rate by 25 bps. Benchmark index fell on weak global cues, and Banking and Auto index got hammered badly. The Sensex tumbled more than 500 points from the day’s opening bell, quoting 24883. The Nifty ended 155 points down at 7603. Both the indices closed lower, more than 2 per cent each.
The advance–decline ratio ended on the negative side in closing session. On the NSE, 883 shares closed in green; while 1622 shares ended the day in red.
Top Nifty Gainers:- HCL Tech closed the day with the top gain on NSE, up by 0.40%, followed by BPCL, Power Grid Corp and Lupin.
Top Nifty Losers:- Adani Port closed the day being the top loser on NSE down by 6.72% followed by ICICI Bank, SBI, Bharti Airtel and Tata Motors DVR.
On the sectoral view 12 out of 13 ended in the red. Bankex and Auto were top losers for the day, and ended down by 591 points and 510 points. Followed by Capital Goods and Metals, which were down by 344 points and 211 points. Healthcare, IT, Mid-Caps and Small-Caps closed down more than 150 points. However only Consumer Durables closed on a positive note, up by 30 points.
The Asian markets remained in the downward territory. The Nikkei ended on a negative note by 390 points. The Hang Seng closed down by 321 points. The Straits Times and KOSPI ended on a negative note.
Buzzers: :- ICICI Bank. The stock fell more than 5% and made its low at Rs 225. In last few trading sessions we have seen a couple of bounce backs from Rs 215 level, indicating a vital support around this level.
The Nifty index has given bearish breakdown at 7650 level and closed around 7600 level, which is indicative of a weak scenario ahead.
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