Sensex Collapses By More Than 200 Points, Bankex Down By 2%

The Indian markets continued to trade weak with traders unwinding their long positions in the absence of any major trigger. At the end of the day, Nifty closed down by 62 points at 5851 and Sensex closed at 19,347, down by 216 points. 

The advance–decline ratio ended on a negative side at the end of the day. On the NSE, 1045 shares closed in red and 371 shares closed in green. 

Top 5 Gainers on NSE: Sun Pharma ended up by 1.23% as the top gainer on NSE, followed by ITC, Bharti Airtel, Asian Paints and HCL Technologies. 

Top 5 losers on NSE: Hindalco Industries ended the day as the top loser on the NSE, down by 2.12%, followed by ICICI Bank, Bajaj Auto, Siemens and Jindal Steel and Power.

Most of the sectors ended in red. Bankex, Consumer Durables and Auto witnessed a heavy sell off and ended down in the range of 1.52%-2.55%. FM CG ended in a positive zone. 

The European markets opened lower on Wednesday, tracking losses in the Asian markets. FTSE 100 is trading lower by 0.63%, followed by CAC 40 and DAX.

The Asian Peers witnessed profit booking. Hong Kong’s Hang Seng ended lower by 1.48% followed by Shanghai Composite, Strait Times and Nikkei 225. KOSPI and Taiwan Weighted ended flat with a positive bias. 

Buzzers: Ranbaxy Laboratories saw a good momentum in today’s trading session. The stock ended with gains of 0.56% at Rs 420.It has outperformed the market by surging 11% in the past trading session after the pharmaceuticals company entered into a in-licensing agreement with Alembic Pharmaceuticals to exclusively market the generic version of Pfizer Inc’s anti-depression drug Pristiq in the US. 

Welspun Corp slid down by more than 10% in today’s trade over heavy volumes. The stock opened at Rs 58.25 and made a low of Rs 49.35. 

The markets continued to languish for the third trading session in a row. Going ahead, we feel the bulls will find support around the levels of 5820.