Markets dither ahead of exit polls

Indian markets tread nervously on Wednesday, ahead of state elections exit polls, and especially wary of the outcome of UP polls. Nifty was not able to sustain the psychological level of 8950.

At the closing bell, Nifty ended at 8924, with loss of 22 points and BSE Sensex closed at 28901 with a decline of 97 points. On the NSE, 17 shares closed in the green, while 34 shares ended the day in the red.

All indices closed in the red, except Bankex and Healthcare. Auto index lost 103 points. Oil & Gas also declined 188 points. Metals fell 228 points. Mid-cap and Small-cap indices shed 75 points and 42 points, respectively.

Asian markets traded mixed on Wednesday. Shanghai declined 0.05 per cent, Hang Seng increased 0.43 per cent, while Nikkei dropped 0.47 per cent. European markets were also trading weak.

Derivative Analysis

Nifty Future closed with a negative bias at 8954. Going ahead, 8985/8933 will be the immediate support levels.