Markets Jolted Post Budget, Sensex Down By 100 Points

The key benchmark indices continued to remain volatile, fluctuating between the negative and positive territory in the afternoon trading session. At 01:30 PM, Nifty is trading down by 37 points at 5759 and Sensex is trading at 19.052, down by 99 points. Both the indices are trading down in the range of 0.50% to 0.64%.

The advance-decline ratio turned negative due to a heavy sale post the FM’s budget speech in the afternoon trading session. On the NSE, 911 shares are trading in red and 478 shares are trading in green. 

Top 5 NSE Gainers: ITC trades firm in the afternoon session and is the top gainer on NSE, trading up by 2.44%, followed by Coal India, Sun Pharma, Tata Consultancy Services and Asian Paints. 

Top 5 NSE Losers: Reliance Infrastructure is trading down by 5.90% and is among the top losers on NSE, followed by SBI, Punjab National Bank, IDFC and Jindal Steel and Power. 

Among the sectoral indices, most sectors are trading in red. Consumer Durables, FMCG, IT and Teck continue to prosper and trade firm in the range of 0.57%-1.37%. Metal and Capital Goods are trading lower by 2% or more. 

Meanwhile, the Asian markets closed firm. Japan’s Nikkei 225 inched up by 2.64% to close at 11,559. Shanghai Composite surged up by 2.21%, followed by Hang Seng and KOSPI.  

Buzzers: Tata Consultancy Services surged to a new 52-week high. The stock is trading higher by 1.5% at Rs 1510. It has seen a jump in volumes. 

Mahindra and Mahindra slipped down by 1.72% and is now trading down at Rs 877.25. The stock slipped down after the FM announced an additional duty on SUV cars. 

Nifty is hovering around crucial support of 5730-5740. Going ahead, if we close below this level we could drop down to the levels of 5650.