Markets remain choppy; end lower

The Indian markets have been witnessing choppy trades for two consecutive days. At the ending of first week of October, indices witnessed major hurdles on the higher side. The Nifty ended down by 12 points at 8697 and Sensex was down 45 points at 28060. The indices ended the day lower by 0.14- 0.16 per cent respectively.

The advance-decline ratio ended on the negative side. On the NSE, 19 shares closed in green, while 31 shares were in the red.

Majority of the sectoral indices closed in the negative in today’s session. IT and Oil & Gas were the  top losers, down by 80 points each. While Healthcare and Consumer Durables were down by around 40 points each. Bankex and FMCG also closed in negative territory. However Auto closed in positive territory, up by 139 points.   

In the Asian markets, the Nikkei closed down by 39 points. The Hang Seng index ended down by 100 points. While the Taiwan and KOSPI also ended on a negative note.

European markets were also trading in negative scenario.

Derivative Analysis

Nifty future closed at 8700. If it sustains above this level, it may see more upward moves.