Indices witnessed a deep cut, Sensex Below 25500 mark
DSIJ Intelligence / 13 May 2016
The Indian markets witnessed a deep cut during the second week of May's ending session. All the sectoral indices closed in negative territory. Bankex and Capital Goods were hit the most and hammered more than 200 points each. The Nifty ended lower by 85 points at 7814 and Sensex was 300 points down at 25489. The indices lost 1.08- 1.17 per cent respectively.
The Indian markets witnessed a deep cut during the second week of May's ending session. All the sectoral indices closed in negative territory. Bankex and Capital Goods were hit the most and hammered more than 200 points each. The Nifty ended lower by 85 points at 7814 and Sensex was 300 points down at 25489. The indices lost 1.08- 1.17 per cent respectively.
The advance-decline ratio ended on the negative side. On the NSE, 1060 shares closed in green, while 1500 shares ended the day in the red.
Top 5 Nifty Gainers: Asian Paints closed the day with the top gains, up by 1.60%, followed by Idea Cellular, HCL Tech, Bharti Infratel and Tata Motors, which were among the others that closed higher.
Top 5 Nifty Losers: Hindalco closed the day with top losses, down by 4.3%, followed by Eicher Motors, Adani Ports, Kotak Mahindra and HDFC.
All of the sectoral indices ended in the red. Bankex and Capital Goods were the top losers, down more than 200 points each. Metal, Consumer Durables and Healthcare dropped more than 100 points. Mid-Caps and Small-Caps were both down around 50 points each.
The Asian markets closed on a negative note. The Nikkei was the strongest loser, down 234 points, and Hang Seng was down 196 points.
Buzzer: Hindalco plummeted by over 4%. The stock made a new 52-week low of Rs 90 in today’s session.
The Nifty has broken and closed below its strong support of 7850. If the index opens below this level for tomorrow’s session, it may touch 7750.
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