Volatile markets close on a negative note

The Indian markets saw a choppy trade on both sides in the opening session of August. The Nifty index was initially down around 100 points from higher level, however it recovered from some losses towards the end to close on a moderately negative note. The Nifty was down by 2 points to close the day at 8636 and Sensex closed at 28003, down by 48 points. Both the indices ended in red by 0.02-0.17 per cent.

Market breadth for the Nifty index was negative but the advance decline ratio ended on the positive side in today’s trading session. 29 stocks closed with green mark; whereas, only 22 stocks closed in red.

Top 5 Nifty Gainers: HCL Tech was top gainer with 3.6% gains, followed by TCS, Tata Steel, Wipro and Hindalco.

Top 5 Nifty Losers: ICICI Bank was top loser with loss of 5.1%, followed by L&T, BHEL, Bank of Baroda and Adani Ports.

In today’s trading session most of the sectors closed on the red mark and Capital Goods was top loser by 362 points. While Bankex and FMCG closed down by 256 points and 45 points respectively. However IT and Auto closed on a positive note, up more than 100 points each. Metals, Mid-caps and Small-caps also closed in green territory.

The Asian markets were quoting in positive. Japan’s Nikkei was positive, closing up by 66 points.  Hong Kong’s Hang-Seng was up by 237 points, while China’s Shanghai Composite closed on the red mark.

European markets were also trading in negative scenario.

Derivative Analysis

Nifty August series started with a choppy trade. Going ahead the levels of 8400/8360 will remain as a vital support. However on the upper hand 8700 will be the major hurdle.

Top 5 Gainers On NSE

Top 5 Losers On NSE