Benchmark struggles for break out

The NSE 50 and BSE 30 were surrounded by negative sentiments from the globe and at home. Majority of the sectors closed in negative territory. Metals and Healthcare were hammered badly in the range of 1-3 per cent. The Nifty ended lower by 13 points at 8622 and Sensex closed 21 points down at 27981. The indices ended in red by 0.8- 0.16 per cent respectively.

Market breadth for the Nifty index was negative and the advance decline ratio also ended on the negative side in today’s trading session. 20 stocks closed with green mark whereas 31 stocks closed in red.

Top 5 Nifty Gainers: ITC was top gainer with 4.1% gains, followed by Maruti, HCL Tech, Bank of Baroda and Tech Mahindra.

Top 5 Nifty Losers: Auro Pharma was top loser with loss of 3.1%, followed by Tata Motors, HDFC, BPCL and Tata Motors DVR. 

In today’s trading session most of the sectors closed on the red mark and Metals was top loser by 170 points. While Healthcare and Auto closed on negative note around 130 points and 103 points respectively. Followed by Capital Goods, Mid-caps and Small-caps, which also closed in red territory.  

The Asian markets were quoting in the mix. Japan’s Nikkei was negative, closing down by 244 points.  Hong Kong’s Hang-Seng was up by 237 points, while China’s Shanghai Composite closed on the green mark.

European markets were also trading in negative scenario.

Derivative Analysis

Nifty future is struggling to sustain above 8700 level. On the upper hand 8750 will be the major hurdle while 8550/8500 remains as a vital support. 

Top 5 Gainers On NSE

  Top 5 Losers On NSE