Markets dance on GST tune

The Indian markets faced a disappointing day, specially after the debate on GST bill. Apart from Metal index all the sectoral indices closed in negative territory. The Nifty ended lower by 78 points at 8544 and Sensex was 284 points down at 27697. The indices ended in the red by 0.91 and 1.02 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. 12 stocks closed with green mark; whereas 39 stocks closed in red.

Top 5 Nifty Gainers: HCL Tech was top gainer with 3.1% gains, followed by Infratel, Cipla, Asian Paints and Bosch Ltd.

Top 5 Nifty Losers: BHEL was top loser with loss of 3.7% followed ITC, Tata Motors DVR, Tata Motors and Maruti. 

In today’s trading session most of the sectors closed on the red mark and Auto was top loser by 359 points. While Capital Goods and Consumer Durables closed on a negative note around 261 points and 213 points respectively, followed by FMCG, Mid-caps and Small-caps, which also closed in red territory.  

The Asian markets were quoting in negative. Japan’s Nikkei was negative, and closed down by 308 points.  Hong Kong’s Hang-Seng was down by 390 points, while China’s Shanghai Composite closed on the red mark.

European markets were also trading in negative scenario.

Derivative Analysis

Nifty future closed around its vital support level of 8550.   If it opens and sustains below the technical level of 8500, it may see some more profit booking ahead.

Top 5 Gainers On NSE

Top 5 Losers On NSE