Volatile market ends on a lower note
DSIJ Intelligence / 11 May 2016
May 11, a big volatile session for the Indian markets. As markets opened around 1 per cent lower, it recovered all the loss in mid-session, but also closed on a lower note. Amongst the sectoral indices, most affected stocks were Auto, Healthcare, Consumer Durable and IT, as they witnessed heavy selling and closed below their respective supports. Having fallen by 175 points, the Sensex closed the day at 25597.The Nifty ended the day lower by 38 points at 7848.
May 11, a big volatile session for the Indian markets. As markets opened around 1 per cent lower, it recovered all the loss in mid-session, but also closed on a lower note. Amongst the sectoral indices, most affected stocks were Auto, Healthcare, Consumer Durable and IT, as they witnessed heavy selling and closed below their respective supports. Having fallen by 175 points, the Sensex closed the day at 25597.The Nifty ended the day lower by 38 points at 7848.
The market breadth ended on a negative note at the end of the day. On the NSE, 1086 shares closed in the green; while 1459 shares ended the day in red.
Top Nifty Gainers: Zee Entertain was the highest gainer today and was appreciated by 7.2%. It was followed by Axis Bank, Hindalco, Bosch and Kotak Mahindra.
Top Nifty Losers: Bharti Airtel closed the day lower by 2.7%. It was followed by Tata Motors DVR, SBI, Tata Motors and Bharti Airtel.
12 of the 13 sectors ended the day with losses. Auto and Healthcare were the top losers as they closed lower around 90 points each. IT and Consumer Durables also ended the day significantly lower, down 81 points and 61 points. Mid-caps and Small-caps also closed in the mix, up by 18 points and down by 3 points respectively.
On the contrary, Asian markets closed on a negative note today. The Nikkei was the top gainer as it closed higher by 13 points. The Hang Seng ended lower by 187 points. The KOSPI and Taiwan also ended on a negative note.
Buzzer: Axis Bank gained 2.1% today as the stock closed around the technical level of Rs 500, which is indicative of a more positive move ahead.
The Nifty future was trading in the wide range of 7800-7900. Going ahead, 7750 will be the vital support level. On the other hand 7950 will be a major resistance.
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