Nifty holds 8500; IT tanks by 5.3 %

The NSE 50 and BSE 30 ended in negative sentiments which came from the home front. IT stocks dropped in the range of 1-3 per cent in a day, while the stock of Infosys plunged by 8 per cent and closed at 1072. The Nifty ended lower by 23 points at 8541 and Sensex closed 105 points down at 27836. The indices ended in red by 0.28-0.38 per cent each.

The advance decline ratio ended on the positive side at the closing buzz. 31 stocks closed with green mark whereas, 20 stocks closed in red.

Top 5 Nifty Gainers: Tata Steel was top gainer gain with 3.5% followed by Bharti Airtel, Idea, HDFC and HDFC Bank. 

Top 5 Nifty Losers: INFY was top loser with loss of 8.9% followed by TCS, Wipro, Techm, Auropharma and HCL Tech. 

On the sectoral front, 11 out of the 13 sectors ended in the green. Auto sector was top gainer and up by 195 points. Whereas Bankex, Metals and Capital Goods sector also were up around 65 points each. However IT and Consumer Durables were surrounded by profit booking, down by 599 points and 49 points respectively.

The Asian markets were quoting positive. Nikkei was up by 111 points. While Hong Kong’s Hang-Seng was up by 98 points. Taiwan and KOSPI also closed in positive territory.

In Europe, FTSE opened up by 13 points, DAX opened 122 points higher, and CAC opened 42 points higher.

Derivative Analysis

The Nifty July futures held on to the 8500 mark at closing. If it sustains above 8550 mark, index may continue with current momentum.

Top 5 Gainers On NSE

Top 5 Losers On NSE