Indian markets start new year on a muted note

The Indian markets started on a weak note on the first day of 2017. However, during the second-half, markets recovered and closed marginally lower. The BSE Sensex and Nifty indices closed about 0.12 per cent and 0.08 per cent respectively below their previous close. At closing bell, the Nifty ended 6 points lower at 8179 and the BSE Sensex decreased 31 points to close at 26,595. All sectoral indices closed in the green, except for the Banking and IT indices.

The advance-decline ratio stood positive in the closing session. On the NSE, 28 shares closed in the green, while 23 shares ended the day in the red.

The Auto index closed at 20,651, with an increase of of 394 points. The Capital Goods and Metals indices went up by 109 and 184 points, while Bankex amd IT dropped 245 and 33 points respectively. The Mid-cap and Small-cap indices were also up by more than 100 points and 144 points, respectively.

Most of the Asian markets were closed due to the holiday on the occasion of new year. Meanwhile, KOSPI traded flat and Taiwan closed 0.01 per cent down on Monday.

The European markets were trading in a positive territory. Meanwhile, FTSE remained closed on account of new year holiday.

Derivative Analysis

Nifty future closed on a positive note at the 8191-mark. Going ahead, 8136/8246 will be the immediate support levels.