Nifty Ends Below 5500
Vinaya Patil / 09 Apr 2013
The Indian markets slid deep into red in the last hour of trading with heavyweight likes SBI, Reliance, ONGC and ITC putting pressure on the markets by falling more than 1% in today’s trade. Nifty slipped below 5500 for the first time since September 2012. At the end of the day, Nifty closed at 5542 and Sensex closed at 18,441.
The Indian markets slid deep into red in the last hour of trading with heavyweight likes SBI, Reliance, ONGC and ITC putting pressure on the markets by falling more than 1% in today’s trade. Nifty slipped below 5500 for the first time since September 2012. At the end of the day, Nifty closed with a loss of 10 points at 5542 and Sensex closed at 18,441, down by 9 points. Both the indices closed down in the range of 0.86%-0.1.19%.
The advance – decline ratio ended on a negative side at the end of the day. On the NSE, 842 shares closed in red and 368 shares closed in green.
Top 5 Gainers on NSE: Tata Motors ended up by 2.12% as the top gainer on the NSE, followed by Cairn India, Tata Consultancy Services, IDFC and NTPC.
Top 5 Losers on NSE: Reliance Infrastructure ended the day as the top loser on the NSE, down by 3.63%, followed by ONGC, GAIL, SBI and Punjab National Bank.
Most of the sectors ended in red. IT, Technology, PSU and Oil & Gas were the top losers among the sectoral pack. Auto was an exception to have ended in green.
The European markets are trading up. CAC 40 is trading with gains of 0.70%, followed by FTSE 100, trading higher by 0.48% and DAX is trading higher by 0.36%.
The Asian markets closed in green. Hong Kong’s Hang Seng closed up by 0.70% at 21,870, followed by Shanghai Composite, Straits Times and KOSPI. Nikkei 225 closed flat after hitting a 5-year high.
Buzzers: Plethico Pharmaceuticals continues its uptrend. The stock is locked in an upper circuit with gains of 5% at Rs 222.75 in this sluggish market. It had gained 5% in previous the trading session.
The stocks of V-Guard Industries surged by almost 10% and closed at Rs 497.5, over reports of it achieving a net turnover of over Rs 1,350 crore for the financial year ended March 31, 2013. It thus registered a growth of more than 40% over the previous financial year. The stock has seen a jump in volumes too.
Nifty lost almost 100 points from the day’s high. It’s clearly evident than market is in downtrend and every rise is opportunity to short.
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