Markets shed gains in last hour of trading

Indian markets started the day on a bullish note and touched 52-week high. However, at the closing hour, the markets were off from the day’s high and closed in the negative territory. Nifty was not able to sustain the psychological support level of 8900.

At the closing bell, Nifty ended at 8899, with loss of 46 points and BSE Sensex closed at 28839 with decline of 144 points. On the NSE, 16 shares closed in the green, while 35 shares ended the day in the red.

All indices closed in the red, except Auto. Bankex and Healthcare shed more than 200 points each. Oil & Gas declined 181 points. Capital Goods, FMCG and Metals decreased 68 points, 95 points and 63 points, respectively. Mid-cap and Small-cap indices declined 191 points and 178 points, respectively.

Asian markets sentiments were mixed on Thursday. Shanghai decreased 0.52 per cent, Hang Seng declined 0.2 per cent, while Nikkei increased 0.88 per cent. European markets were also trading mixed.

Derivative Analysis

Nifty Future closed with a positive bias at 8912. Going ahead, 8979/8887 will be the immediate support levels.