Indices on a downward trajectory

The Indian markets have been witnessing a continuous profit booking trade from last couple of sessions. Today, the most affected were the stocks of Bank index, with stocks like ICICI Bank and SBI witnessing heavy selling and crashing by more than 250 points. Having fallen by 169 points, the Sensex ended the day at 25436.The Nifty ended the day lower by 43 points at 7805. 

The market breadth ended on a negative note at the end of the day. On the NSE, 1283 shares closed in the green, while 1322 shares ended the day in red.

Top Nifty Gainers: Hindalco was the highest gainer today and appreciated by 2.9%. It was followed by GAIL, BHEL, Aurobindo Pharma and Ambuja Cement. 

Top Nifty Losers: ICICI Bank closed the day lower by 4.3%. It was followed by Dr Reddy's Labs, Adani Port, Tech Mahindra and Bharti Airtel.

9 of the 13 sectors ended the day with gains. Bankex was the top loser as it closed lower by a hefty 255 points. Healthcare and IT also ended the day significantly lower. They lost 73 points and 30 points respectively. However Consumer Durables, Metals Mid-Caps and Small-Caps also closed in a positive scenario. 

Asian markets closed on a negative note today. The Nikkei was the top loser as it closed lower by 518 points. The Hang Seng ended lower by 320 points. The Shanghai Composite and Taiwan also ended on a negative note.

Buzzer: Dabur gained 7.2% today as the company announced good Q1 numbers. The stock closed above the technical level of Rs 280, which is indicative of a more positive move ahead.

The Nifty closed around its vital support level of  7850 today. A closing below this level is indicative of a more painful scenario ahead.