Indian markets start week on a negative note

The Indian markets started the week on a subdued note, but witnessed a fall in the last hour of trading on Monday’s trading session. The market closed at its two-week low just above the 8100 level. All sectoral indices closed in the red, except Oil & Gas. BSE Sensex and Nifty indices closed about 0.43 per cent downside. At closing bell, the Nifty ended 35 points lower at 8104 and the BSE Sensex declined 114 points to close at 26374.

The advance-decline ratio stood negative in the closing session. On the NSE, 31 shares closed in the red, while 19 shares ended the day in the green, while one remained unchanged.

Sectoral indices such as Healthcare, Consumer Durables, Capital Goods and Auto decreased by more than 100 points each. Metals, Bank Nifty declined more than 50 points each. Mid-caps and Small-caps were also down by more than 62 points and 55 points. respectively.

In the Asian markets, the Nikkei closed with a loss of about 10 points, while the Hang Seng ended on a negative note, down by 188 points. The KOSPI and Taiwan also dropped almost 0.19 per cent and 0.94 per cent, respectively on Monday.

The European markets were trading in the negative zone.

Derivative Analysis

Nifty future closed on a negative note at the 8127-mark. Going ahead, 8180-8070 will be the immediate support levels.