Markets start the week on a muted note

Indian capital markets started the week on a muted note, despite Central cabinet clearing four supporting GST legislations, paving the way for their introduction in parliament as early as Monday. Nifty was not able to sustain above the 9150 level.

Indian markets traded with a negative bias and at the closing bell, Nifty ended at 9126, with loss of 33 points and BSE Sensex closed at 29518 with reduction of 130 points. On the NSE, 23 shares closed in the green, while 28 shares ended the day in the red.

All indices closed in the red, except Healthcare, FMCG, Consumer Durables and Auto. Bankex reduced 100 points. IT dropped more than 144 points. Consumer Durables increased 150 points and Healthcare also rose 68 points. Mid-cap index increased 23 points while Small-cap rose 42 points, respectively.

Asian markets traded mixed on Monday. Shanghai increased 0.41 per cent, Hang Seng rose 0.79 per cent, while Nikkei reduced 0.35 per cent. European markets were trading in negative territory.

Derivative Analysis

Nifty Future closed in the negative at 9157. Going ahead, 9218/9006 will be the immediate support levels.