Nifty plays hide and seek with 8150; Metals and Banks drag

The Indian markets continued with profit booking on the higher side. The indices like Metal, Oil & Gas and Banks dragged the benchmark to a lower note, down more than 100 points each. The Nifty could not manage to sustain above 8150 mark, and ended lower by 14 points at 8139; and Sensex was down by 29 points at 26489. Both the indices ended lower by around 0.11-0.14 per cent each.

The market breadth remained negative till closing hour, with 18 advances and 33 declines on the NSE.

Majority of sectoral indices closed on a negative note. Metals index snapped for the day down by 167 points. While Metals and Banks' index witnessed downward moves around 100 points each. However, Auto and Consumer Durables provided good support to the indices, closing up around 90 points and 60 points respectively. Mid-caps and Small-Caps closed on a negative note.

In the Asian markets, the Nikkei closed up by 127 points. While the Hang Seng index ended down by 38 points. The KOSPI and Taiwan ended on a positive note.

European markets were trading in a mixed scenario.

Derivative Analysis

Nifty future closed below 8150 mark. Going ahead 8070/8020 will be the vital supports.