Volatility word of the day as indices witness profit booking
DSIJ Intelligence / 19 May 2016
The Indian markets faced another disappointing day, with all of the sectoral indices closing on a negative note. Capital Goods and Bankex were hammered the most, and dipped by 320 points and 229 points respectively. Mid-Caps, Small-Caps, Metals and Oil & Gas also snapped more than 100 points each. The Nifty ended lower by 86 points at 7783; and Sensex was 304 points down at 25399. The indices ended in the red by 1.10 and 1.19 per cent respectively.
The Indian markets faced another disappointing day, with all of the sectoral indices closing on a negative note. Capital Goods and Bankex were hammered the most, and dipped by 320 points and 229 points respectively. Mid-Caps, Small-Caps, Metals and Oil & Gas also snapped more than 100 points each. The Nifty ended lower by 86 points at 7783; and Sensex was 304 points down at 25399. The indices ended in the red by 1.10 and 1.19 per cent respectively.
The advance-decline ratio ended on the negative side. On the NSE, 915 shares closed in green; while 1634 shares ended the day in the red.
Top 5 Nifty Gainers: BPCL closed the day with the highest gains of 1.09%, followed by Lupin, Power Grid, Wipro and Zee Entertain, which are the others showing gains.
Top 5 Nifty Losers: Adani Power remained the strongest loser, down by 6.3%, followed by SBI, Bank Of Baroda, L&T and Eicher Motors.
13 out of the 13 sectors traded in the red. Capital goods was the top loser, down by 320. Bankex and Consumer Durables also dragged the markets down by 299 points and 122 points respectively. Mid-caps, Small-Caps, Metals, FMCG and Oil & Gas indices closed on a lower note, down more than 100 points each.
The Asian markets also faced a negative trading day. The Hang Seng market closed as the top loser, down by 132 points. Taiwan and KOSPI markets also ended with nominal losses. However Nikkei market closed with marginal gains, up by 1 point.
Buzzer: BPCL. The stock surged after breaking the technical level of Rs 930 and made a high of 949. If it opens above this level, it may see more upward momentum.
The Nifty has fallen and closed below 7800. If it sustains below this level, a bearish scenario may continue.
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