Indices struggle: end lower

The Indian markets witnessed choppy trades for Tuesday’s session. The banking stocks like Axis Bank, Bank Of Baroda, IndusInd Bank and Federal Bank saw some profit booking trade on the higher side. The sectoral indices like Capital Goods and Healthcare also closed in the negative territory. As a result the Nifty ended down by 18 points at 8219 and Sensex was down 54 points at 26812. The indices ended the day lower by 0.20-0.23 per cent each.

The advance-decline ratio ended on the positive side. On the NSE, 1314 shares closed in green, while 1285 shares were in the red.

Top 5 Nifty Gainers: Bharti Airtel closed the day with the top gains, up by 2.1%. Hindalco, ONGC, Tata Motors (DVR) and M&M were among the other key gainers.

Top 5 Nifty Losers: Tata Power was the top loser, down by 2.3%, followed by Aurobindo Pharma, NTPC, Adani Power and Tech Mahindra.

By the end of the day, 7 out of 13 sectors remained in the red zone. Bankex was the top loser, down by 131. Capital Goods and Healthcare were down by 58 points and 59 points respectively. IT, Metals and FMCG also closed in the negative territory.  However Auto and Consumer Durables ended on the positive mark, up by 113 points and 45 points respectively.

The Asian markets closed on a positive note. The Nikkei market was the top gainer, up by 203 points. Hang Seng also ended higher by 158 points. KOSPI and Taiwan ended with marginal gains.

Buzzers: The stock of Hindalco has been witnessing upward rally from last week. In today’s session it surged 2 per cent to close around the technical level of Rs 125.  If it continues with the current scenario, it may touch the technical level of Rs 130/140 soon.

The Nifty index was strongly volatile on both sides. Going ahead, the strong support will be around 8170/8120 levels. On the other hand 8310/8350 will be the major hurdles.