Bears on the prowl; mid-caps, small-caps mauled

After a small recovery, the Nifty and Sensex witnessed another disappointing session. Today, all the sectorial indices ended lower, end, while Healthcare, Mid-cap and Small-cap indices cracked under selling pressure during the day. The Nifty ended lower by 77 points at 7,908; and Sensex closed 233 points, down at 25,807. The indices ended in the red by 0.90-0.95 per cent each.

The market breadth remained negative, with 6 advances and 45 declines on the NSE.

All the sectoral indices closed on a negative note. Healthcare and Auto index buckled during the day, going down by 376 points and 290 points, respectively. Metals, Banks, Mid-cap and Small-Cap indices also witnessed downward moves in the range of 200-250 points each. Oil & Gas, Capital Goods and Consumer Durable too closed in the negative territory.  

In the Asian markets, the Nikkei closed down by 31 points, while the Hang Seng was down 61 points. However, Taiwan and Shanghai ended on a positive note.

The European markets were trading on a mixed note.

Derivative Analysis

The Nifty future is facing major resistance at the 8070-8150-mark. Till such time it remains below these levels, the negative bias might continue.