Indices crack; Axis bank letdown
DSIJ Intelligence / 26 Oct 2016
The Indian markets tanked after mid-market session. The real culprit is Bankex as it fell around 2 per cent and dragged the benchmark on the lower side. The Nifty ended 76 points down at 8615 and the Sensex ended 254 points down at 27836.
The Indian markets tanked after mid-market session. The real culprit is Bankex as it fell around 2 per cent and dragged the benchmark on the lower side. The Nifty ended 76 points down at 8615 and the Sensex ended 254 points down at 27836.
The advance–decline ratio ended on the negative side in closing session. On the NSE, 12 shares closed in green, while 38 shares ended the day in red.
Apart from the Consumer Durables all of the sectoral indices closed in negative in today’s session. Bankex and Healthcare were the top losers, losing around 431 points and 183 points respectively. While Auto and Metals were down by around 140 points each. Oil & Gas, IT and Capital Goods also closed in negative territory, down around 50 points each. While Mid-Caps and Small-Caps closed in negative territory.
In the Asian markets, the Nikkei closed up by 26 points. The Hang Seng index ended down by 239 points. While the Straits Times and KOSPI also ended on a negative note.
European markets were also trading in negative scenario.
Derivative Analysis
Nifty future closed below its crucial supports which were mentioned earlier. If it opens below 8600 mark, it may see more downward move.
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