Bulls trapped in bear’s grip: Nifty below 7750 mark
DSIJ Intelligence / 03 May 2016
After a positive opening, the benchmark indices crashed over negative sentiments from the global cues. All the sectors dropped in the range of 1-4 per cent in a single day. The Nifty ended lower by 58 points at 7747 and Sensex closed 207 points down at 25229. The indices ended in red around -0.75 per cent each.
After a positive opening, the benchmark indices crashed over negative sentiments from the global cues. All the sectors dropped in the range of 1-4 per cent in a single day. The Nifty ended lower by 58 points at 7747 and Sensex closed 207 points down at 25229. The indices ended in red around -0.75 per cent each.
The advance-decline ratio ended on the negative side in today’s session. On the NSE, 1163 shares closed in green, while 1473 shares were in red.
Top 5 Nifty Gainers: Aurobindo Pharma closed the day as the highest gainer, up by 4.3%,followed by Bharti Airtel, Bharti Infrared, Idea Cellular and Grasim, which were among the others that closed in gains.
Top 5 Nifty Losers: Coal India closed the day as the highest loser, followed by Lupin, BHEL, ICICI Bank and Ambuja Cements.
All the sectoral indices closed in negative territory. Bankex was the highest loser among the sectoral indices, down 193 points. IT and Healthcare dipped by 177 points and 112 points respectively. Metal, Mid-Caps and Small-Caps were lower more than 100 points. Capital Goods, Consumer Durables, Oil & Gas, FMCG and Auto also were surrounded in this negative scenario.
Among the Asian peers, the Nikkei market was the highest loser today, down by 518 points. The Hang Seng ended lower by 390 points. Shanghai and KOSPI ended on a positive note.
Buzzers: Coal India the stock was down by 3.2% today and made a low of Rs 277.50. If it breaks its 52-week low which is at Rs 271.65, it may see a further down slide.
The Nifty futures closed below the psychological level of 7800, indicating the possibility of a further downslide in the next trading session.
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