Markets End In Red; JP Associates Down By 5%, Puts Pressure

The Indian markets showed some signs of recovery in the last hour of trade. At the end of the day, Nifty closed with a loss of 21 points at 5698 and Sensex closed at 18.891 down by 26 points. Both the indices closed down in the range of 0.14%-0.37%.

The advance–decline ratio ended on a negative side at the end of the day. On the NSE, 1060 shares closed in red and 355 shares closed in green. 

Top 5 Gainers on NSE: Bharti Airtel ended up by 1.49% as the top gainer on NSE, followed by Dr Reddy’s Labs, HDFC Bank, Tata Consultancy Services and ITC.

Top 5 losers on NSE: Jaiprakash Associates ended the day as the top loser on NSE, down by 5.74%, followed by Hindalco Industries, Jindal Steel and Power, Reliance Infrastructure and ACC. 

Most of the sectors ended in red. Bankex and TECK closed in green with marginal gains. Realty, Metal and Consumer Durables were down about 2% or more. 

The European markets are trading in red. The DAX is trading down by 0.54% followed by FTSE 100, which is trading lower by 0.46% and CAC 40 trading lower by 0.22%.

Meanwhile, the Asian markets closed in red. Japan’s Nikkei 225 closed at 11,652, up by 0.39%. Shanghai Composite closed at 2273, down by 3.79%, followed by Hang Seng and Taiwan Weighted.  

Buzzers: Venky’s surged up by 5.86% at Rs 503 over heavy volumes. The stock opened at Rs 473 and registered a low of Rs 453.3. It saw a good momentum in the last hour of trade.  

Jet Airways rubbed out last week’s gains to close down by 7.09% at Rs 499. The stock fell despite media reports stating that it has approached the civil aviation ministry for acquiring around six slots that currently belong to the non-operational Kingfisher Airlines. 

Going ahead, the resistance for Nifty would be at 5730 and the support would be around the levels of 5670-5660.