Indices struggled; Tata Motors surges
DSIJ Intelligence / 26 Aug 2016
The bears have been active from last three consecutive days and the Indian markets are struggling to breakout. In first day of F&O trade, Banking, Healthcare, IT and Capital Goods indices closed on a negative note. The Nifty ended lower by 19 points at 8572; and Sensex was 53 points down at 27782. The indices lost -0.31 to -0.19 per cent respectively.
The bears have been active from last three consecutive days and the Indian markets are struggling to breakout. In first day of F&O trade, Banking, Healthcare, IT and Capital Goods indices closed on a negative note. While Mid-caps and Small-caps closed in positive territory. The Nifty ended lower by 19 points at 8572; and Sensex was 53 points down at 27782. The indices lost -0.31 to -0.19 per cent respectively.
Top 5 Nifty Gainers: Tata Motors(DVR) was top gainer with 3.3% gains, followed by Bharti Infratel, Tata Motors, Asian Paints and Reliance.
Top 5 Nifty Losers: Wipro was the top loser with loss of 2.7%, followed by HCL Tech, Bank of Baroda, L&T and Idea Cellular.
In today’s trading session majority of the sectors closed on the red mark. Capital Goods and Bankex were top losers, and closed down by 184 points and 130 points respectively. Healthcare and IT also closed on the negative note, down more than 100 points each. However Mid-caps, Small-Caps and Auto stocks closed on a positive note.
The Asian markets were quoting in the mix. Japan’s Nikkei was negative, closing down by 195 points. Hong Kong’s Hang-Seng was up by 94 points, while Taiwan and Shanghai composite closed on the red mark.
European markets were also trading in mixed scenario.
Derivative Analysis
Nifty future closed below 8600 mark. Going ahead vital support will remain at 8540/8480 levels.
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