Nifty Slips Below 6000

After a day of range-bound trades, the last hour of trade was action-packed indeed, as we predicted it would be, with trades dominated by bears. The Nifty closed down by 28 points at 5988 and Sensex was down by 126 points at 19658.01. Both indices were down in the range of 0.46%-0.64%.

The market breadth ended positive. On the NSE, 805 shares have advanced and 655 shares have declined.

Top 5 NSE Gainers: Bharat Petroleum emerged as the top gainer on the NSE, up by 3.07%. Other gainers included Maruti Suzuki India, Cipla, Tata Steel and Cairn India.

Top 5 NSE Losers: L&T remained under selling pressure and was the top loser for the day, ending down by 2.45%. It was followed by the stocks of Jaiprakash Associates, HDFC, Hindustan Unilever and HDFC Bank.

6 out of the 13 sectoral indices ended in the negative zone. Metals and Healthcare were the top performing sectors by the end of the day, closing up in the range of 0.39%-0.50%. CG, Realty and FMGC were on the negative side. All the sectors ended lower by 1.15%-1.75%.

Most of Asian markets ended on a negative note. Nikkei 225 ended down by 0.84%, Taiwan Weighted was down by 0.66% and Hang Seng down by 0.22%. Shanghai Composite ended in the positive zone, up by 0.37%.

The European markets are also trading in the red. CAC 40 is down by 0.57%, DAX is lower 0.44% and FTSE 100 is down by 0.27%.

Buzzers: SAIL touched an intraday high of Rs 101.75 and a low of Rs 94.70. The stock closed the day’s trades at Rs 99.55 with gains of 4.46%. The shares of metal companies were in the limelight on the bourses in the last hour of trade, and the stock surged on reports that the government has imposed a 20% import tax on some china hot rolled (HR) flat steel to prevent market disruption for the domestic industry.

Vikas Global surged 19.97% to end the day at Rs 175.70. The stock witnessed a spike in its price and volumes. It clocked volumes of 166031 for the day, which was a rise of 1751% as compared to its 5-day average volumes.