Indices witnessed Black Friday
DSIJ Intelligence / 11 Nov 2016
The Indian markets saw a landslide fall and USD/INR opened above 67 mark. Bank Nifty was also hammered after majority of the banking stocks closed down around 5 per cent. The Nifty index ended down by 229 points at 8296 and Sensex closed 698 points lower at 26818. Both the indices tanked by 2.5 per cent each.
The Indian markets saw a landslide fall and USD/INR opened above 67 mark. Bank Nifty was also hammered after majority of the banking stocks closed down around 5 per cent. The Nifty index ended down by 229 points at 8296 and Sensex closed 698 points lower at 26818. Both the indices tanked by 2.5 per cent each.
The advance-decline ratio ended on the negative side today. On the NSE, 1 share closed in green, while 50 shares were in the red.
The Auto and Bankex indexes were hammered a lot as they closed down by 976 points and 581 points respectively. Mid-caps and Small-caps also were snapped to close down more than 400 points each. While IT, Healthcare, FMCG, Metals and Capital Goods also closed in negative territory.
In the Asian markets, the Nikkei closed up by 30 points. The Hang Seng index ended down by 308 points. While the Taiwan and Shanghai also ended on a negative note.
European markets were also trading in mixed scenario.
Derivative Analysis
Nifty future closed below its crucial support which was at 8300. If it continues to open below this level, it may see more downfall.
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