Bears on a rampage on D-Street
DSIJ Intelligence / 13 Oct 2016
The Indian markets saw a landslide fall on October 13, 2016. Bank Nifty also hit its lowest mark after surgical strike low. The markets also witnessed an overwhelming sell-off from the FII side. The Nifty index ended down by 135 points at 8573 and Sensex closed 439 points lower at 27643. Both the indices tanked by 1.5 per cent each.
The Indian markets saw a landslide fall on October 13, 2016. Bank Nifty also hit its lowest mark after surgical strike low. The markets also witnessed an overwhelming sell-off from the FII side. The Nifty index ended down by 135 points at 8573 and Sensex closed 439 points lower at 27643. Both the indices tanked by 1.5 per cent each.
The advance-decline ratio ended on the negative side today. On the NSE, 11 shares closed in green, while 40 shares were in the red.
Majority of the sectoral indices closed in the negative in today’s session. Bankex was top the loser, down by 484 points. While Auto, Consumer Durables and Healthcare were down by around 250 points each. Mid-caps and Small-Caps also closed in negative territory. However IT closed in positive territory, up by 18 points.
In the Asian markets, the Nikkei closed down by 65 points. The Hang Seng index ended down by 375 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 8550. If it breaks 8500 level, it may see more painful scenario.
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