Profit booking on higher side; Auto hammered
DSIJ Intelligence / 22 Jun 2016
The Indian markets faced some profit booking on the higher side, with most of the stocks closing around their vital supports. Auto and Capital Goods disappointed the street as they closed down by 151 points and 59 points respectively. The Nifty ended lower by 16 points at 8203 and Sensex was 47 points down at 26765. The indices ended in the red by 0.18- 0.20 percent each.
The Indian markets faced some profit booking on the higher side, with most of the stocks closing around their vital supports. Auto and Capital Goods disappointed the street as they closed down by 151 points and 59 points respectively. The Nifty ended lower by 16 points at 8203 and Sensex was 47 points down at 26765. The indices ended in the red by 0.18- 0.20 percent each.
The advance-decline ratio ended on the negative side. On the NSE, 981 shares closed in green, while 1597 shares ended the day in the red.
Top 5 Nifty Gainers: Adani Ports closed the day with the highest gains of 2.02%. Dr. Reddy's Labs, Coal India, Ambuja Cement and Lupin are the others in gains.
Top 5 Nifty Losers: Tata Motors (DVR) remained the strongest loser, down by 3.05%, followed by Bharti Infratel, Tata Motors, GAIL and Ultra tech Cement.
10 out of the 13 sectors traded in the red. Auto was the top loser, down by 151. Capital Goods and FMCG also dragged the markets down by 59 points and 46 points respectively. Mid-Caps and Small-Caps also closed in negative territory. However Healthcare index closed on a positive note, up by 62 points.
The Asian markets closed a mixed trading day. The Nikkei market closed as the top loser, down by 103 points. While Hang Seng market was in positives, up by 126 points. KOSPI and Taiwan ended with marginal gains.
Buzzer: Tata Motors DVR. The stock witnessed heavy profit booking, was down by 3 per cent to close below the technical level of Rs 315. If it continues with current scenario, it may touch 300 level soon.
The Nifty has fallen and closed around 8200 mark. If it sustains below this level, a profit booking scenario may continue.
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