Another disappointing day; Bankex down by 1.2 %
DSIJ Intelligence / 13 Jun 2016
The Indian markets faced another disappointing day, with most of the stocks closing below their vital support levels. The sectoral indices like Bankex, Capital Goods and Auto were hammered badly and dragged the indices lower. Mid-Caps and Small-Caps also snapped by 50 points each. The Nifty ended lower by 59 points at 8110 and Sensex was 238 points down at 26396. The indices ended in the red by 0.73-0.90 respectively.
The Indian markets faced another disappointing day, with most of the stocks closing below their vital support levels. The sectoral indices like Bankex, Capital Goods and Auto were hammered badly and dragged the indices lower. Mid-Caps and Small-Caps also snapped by 50 points each. The Nifty ended lower by 59 points at 8110 and Sensex was 238 points down at 26396. The indices ended in the red by 0.73-0.90 respectively.
The advance-decline ratio ended on the negative side. On the NSE, 1104 shares closed in green, while 1466 shares ended the day in the red.
Top 5 Nifty Gainers: BPCL closed the day with the highest gains of 2.2%. Zee Entertain, Lupin, Bharti Airtel and Ambuja Cement are the others showing gains.
Top 5 Nifty Losers: Idea Cellular remained the strongest loser, down by 3.5%, followed by ICICI Bank, Tata Motors DVR, Tata Steel and Tata Motors.
12 out of the 13 sectors traded in the red. Bankex was the top loser, down by 264. Auto and Capital Goods also dragged the markets down by 185 points and 172 points respectively.Mid-Caps, Small-Caps, Metals and Consumer Durabales were down in the range of 50-90 points. However Healthcare closed in positive territory.
The Asian markets closed on a lower note. The Nikkei market closed as the top loser, down by 582 points. Hang Seng market was also in negative, down by 529 points. KOSPI and Taiwan ended with marginal loss.
Buzzer: Idea Cellular was down by 3.5 per cent and broke its vital technical support of Rs 100. If it continues with current scenario, it may see more downward moves upto Rs 94-91.
The Nifty has fallen and closed below 8150. If it sustains below this level, a bearish scenario may continue.
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