Another disappointing day at D-street: Adani Ports tumbles

The Indian markets faced another disappointing day, with most of the stocks closing below their crucial supports levels. Apart from the IT index all the sectoral indices closed in red territory. The Nifty ended lower by 40 points at 7706; and Sensex was 127 points down at 25101. The indices ended in the red around 0.51 per cent.

The advance-decline ratio ended on the negative side. On the NSE, 777 shares closed in green; while 1784 shares ended the day in the red.

Top 5 Nifty Gainers: HDFC closed the day with the highest gains of 2.7%. NTPC, HCL Tech, Aurobindo Pharma and Infosys are the others showing gains.

Top 5 Nifty Losers: Adani Ports remained the strongest loser, down by 11.5%, followed by Tata Motors, Tata Motors DVR, Hindalco and Tata Steel.

12 out of the 13 sectors traded in the red. Auto and Metals were the top losers, down by 378 points and 276 points respectively. Bankex, Consumer Durables and Capital Goods also dragged the markets down more than 100 points each. Mid-Caps and Small-Caps maintained their profit booking trend, and were also down by  more than 100 points. While IT held some gains and ended 25 points higher.

The Asian markets closed with profit booking reigning over them. The Nikkei market closed as the top loser, down by 518 points. Hang Seng market was also in negative, down by 151 points. KOSPI and Taiwan ended with a marginal loss.

Buzzer: Adani Power has announced its Q4 results, wherein the revenue is below estimated. The stock drifted down by 11.5 % and made a new low of Rs 205.

The Nifty has fallen and closed below 7750. If it sustains below this level, a bearish scenario may prevail.