Bears sweat it out: benchmarks drop;; Healthcare snapped
DSIJ Intelligence / 15 Dec 2016
The Indian markets saw a continued range bound momentum, but ended in negative territory. The indices like Healthcare, Consumer Durables, FMCG and Auto dragged the benchmark on a lower note. While IT and Banks provided some support. The Nifty ended lower 29 points at 8153; and Sensex was down by 84 points at 26519.
The Indian markets saw a continued range bound momentum, but ended in negative territory. The indices like Healthcare, Consumer Durables, FMCG and Auto dragged the benchmark on a lower note. While IT and Banks provided some support. The Nifty ended lower 29 points at 8153; and Sensex was down by 84 points at 26519. Both the indices ended lower by around 0.31-0.35 per cent each.
The market breadth remained negative till closing hour, with 18 advances and 32 declines on the NSE.
The sectoral indices closed on a mixed note. Healthcare index snapped for the day, down by 210 points. While Auto, Consumer Durables and FMCG witnessed downward moves around 60-80 points each. However IT and Banks provided good support to the indices, closing up around 60 points each. Mid-caps and Small-Caps also closed on a positive note.
In the Asian markets, the Nikkei closed up by 20 points. While the Hang Seng index ended down by 397 points. The KOSPI and Taiwan also ended on a negative note.
European markets were trading in a mixed scenario.
Derivative Analysis
Nifty future closed above 8150 mark. Going ahead 8240/8300 will be the immediate resistance levels.
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