Bears take centrestage
DSIJ Intelligence / 21 Dec 2016
The NSE 51 and BSE 30 have been continuing with their negative sentiments from last six trading sessions. Today FMCG and IT sectors dragged the indices on the lower hand, while majority of the indices traded sideways. The Nifty ended lower by 21 points at 8061; and Sensex closed 66 points down at 26242. The indices ended in red by 0.25-0.26 per cent each.
The NSE 51 and BSE 30 have been continuing with their negative sentiments from last six trading sessions. Today FMCG and IT sectors dragged the indices on the lower hand, while majority of the indices traded sideways. The Nifty ended lower by 21 points at 8061; and Sensex closed 66 points down at 26242. The indices ended in red by 0.25-0.26 per cent each.
The market breadth remained negative till closing hour, with 22 advances and 28 declines on the NSE.
The sectoral indices closed on a mixed note. FMCG and IT index snapped for the day down by 70 points eacg. While Healthcare and Capital Goods witnessed downward moves in the range of 40-50 points each. However Metals, Oil & Gas and Banks provided good support to the indices, closing up around 50 points each. Mid-cap, Small-Caps also closed in the mix.
In the Asian markets, the Nikkei closed down by 50 points. While the Hang Seng index ended up by 80 points. The KOSPI and Taiwan ended on a negative note.
European markets were also trading in negative scenario.
Derivative Analysis
Nifty future is facing a major resistance at 8100-8150 mark. Till it closes below these levels, the negative scenario might continue.
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