Bears maintain their grip
DSIJ Intelligence / 10 Jun 2016
The bears have been hammering the indices for two consecutive days and the Indian markets witnessed a deep cut also in Friday’s session. The Nifty ended lower by 33 points at 8170 and Sensex was 127 points down at 26635. The indices lost 0.41-0.48 per cent respectively.
The bears have been hammering the indices for two consecutive days and the Indian markets witnessed a deep cut also in Friday’s session. The Nifty ended lower by 33 points at 8170 and Sensex was 127 points down at 26635. The indices lost 0.41-0.48 per cent respectively.
The advance-decline ratio ended on the negative side. On the NSE, 1208 shares closed in green, while 1357 shares ended the day in the red.
Top 5 Nifty Gainers: Hindalco closed the day with the top gains, up by 3.9%. Yes Bank, BHEL, ACC and Ambuja Cements were among the others that closed higher.
Top 5 Nifty Losers: Tata Motors DVR was down by 3.2%, followed by Tata Steel, Tata Motors, Coal India and SBI.
All of the sectoral indices ended in the red. Auto was the top loser, down by 186 points, Consumer Goods dropped 81 points, Capital Goods was 38 points lower and Oil & Gas lost 65 points. Mid-Caps and Small-Caps were both down by more than 25 points each.
The Asian markets closed on a negative note. The Hang Seng was down 255 points, and Nikkei was down 67 points.
Buzzer: The stock of Hindalco surged 3 per cent above the technical level of Rs 115. If it continues with current scenario, it may see more upmoves above Rs 120.
The Nifty has broken and closed below its strong support of 8200. If the index opens below this level for tomorrow’s session, it may touch 8150.
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