Indian markets witness profit booking

Indian capital markets opened on a weak note on selling pressure. Profit booking was witnessed more during the second half of Friday’s session. BSE Sensex and Nifty indices closed about 1 per cent and 1.02 per cent, respectively, on the downside. At the closing bell, Nifty declined by 85 points to close at 8349 and the BSE Sensex lost 274 points to close at 27034. On the NSE, 9 shares closed in the green, while 42 shares ended the day in the red.

All sectoral indices closed in the red, except FMCG. Bankex dropped more than 300 points, while Auto, Capital Goods, Consumer Durables and Metals declined more than 200 points each. Healthcare and Oil & Gas decreased more than 150 points each and IT index declined 82 points. However, FMCG increased marginally by 8 points. The Mid-cap and Small-cap indices dropped 197 and 167 points, respectively.

The Asian markets closed on a mixed note on Friday. Shanghai and Nikkei increased 0.7 and 0.34 per cent, respectively. However, Hang Seng and KOSPI declines 0.71 and 0.35 per cent, respectively. Taiwan’s TAIEX increased 0.14 per cent.

European markets were trading with positive sentiments.

Derivative Analysis

Nifty future closed on a weak note at 8363. Going ahead, 8406/8334 will be the immediate support levels.