Markets Remain Under Pressure, Coal India Disappoints

The Indian markets remained volatile post noon as FMCG and banking shares provided some respite to the markets. Investors and traders are being cautioned ahead of the RBI Policy review which is due tomorrow. At the end of the day, Nifty closed with a loss of 37 points at 5835 and Sensex closed at 19,289, down by 138 points. 

The advance–decline ratio ended on a negative side at the end of the day. On the NSE, 896 shares closed in red and 515 shares closed in green. 

Top 5 Gainers on NSE: Cipla ended up by 2.01% as the top gainer on NSE, followed by Siemens, HCL Hindustan Unilever, ITC and Lupin.

Top 5 Losers on NSE: Coal India ended the day as the top loser on the NSE, down by 5.77%, followed by IDFC, Tata Power, Maruti Suzuki India and GAIL.

Most of the sectors ended in red. FMCG, Consumer Durables and Health care ended higher in the range of 0.20%-0.78%. Metals, PSU and Auto continued to put pressure on the markets and ended as the top loser among the sectoral indices. 

The European markets are trading negative. The CAC 40 is trading lower by 1.10%, followed by DAX which is trading down by 1.05% and FTSE 100 is trading lower by 0.63%. 

The Asian markets ended lower. Japan’s Nikkei 225 and Hong Kong’s Hang Seng ended lower by more than 2%. Shanghai Composite and Taiwan Weighted ended down by about 1.5%. KOSPI and Straits Times ended lower by about a per cent.

Buzzers: HDFC Bank surged by more than 1% in today’s trade. The stock bounced back from an intraday low of Rs 630, which is almost more than 3% from the previous low, which the stock had reached when the private lender had said that it has appointed Deloitte Touche Tohmatsu India to conduct an independent forensic enquiry into the allegations made by the news website Cobrapost.  

The stocks of HCL Technologies continue to outperform the markets. It has made a new 52-week high in today’s trading session. The stock gained by more than 1% in a lackluster market and closed at Rs 802.

As we mentioned in our update earlier that the markets will consolidate around the levels of 5810-5820, this is a strong support for the markets and if it slips below this level, a heavy sell-off is likely.