Markets End Near Day’s Low, Coal India Shines

The India markets slipped from the highs of the day in the last hour of trade today, amid weak global cues and profit booking in Auto and Banking stocks. The 50-share Nifty index closed down by 42 points at 6114 and the Sensex closed was 126 points lower at 20,097.

The advance-decline ended on the negative side today. On the NSE, 847 shares were in the red and 440 shares ended in the green.

Top 5 Nifty Gainers: Coal India ended as top gainer, up by 2.06%. BHEL, Tata Consultancy Services, HCL Technologies and Infosys also held on to their gains.

Top 5 Nifty Losers: NTPC closed down by 4.54%, followed by UltraTech Cement, Jaiprakash Associates, Tata Motors and DLF.

Most of the sectors closed in the red, with Realty, Auto, Bankex and Power as the key losers. IT and TECk remained the top gainers, higher by 0.51%-0.94%.

In the Asian markets, China’s Shanghai Composite ended with gains of 0.22%, Nikkei 225 was up by 0.13% and Taiwan Weighted also ended higher. Hang Seng, Straits Times and KOSPI ended in the red.

Most of the European markets are trading down. CAC 40 and DAX are lower in the range of 0.44%-0.53%. The FTSE 100, on the other hand, is trading flat with a positive bias.

Buzzers: Adani Power has surged by 12% to Rs 60.70, extending its rally of around 11% in the past two trading sessions. This was after the company said that its promoters have released a majority of the pledged shares lying with lenders.

Coal India has rallied 2.36% to Rs 308.40 on the NSE after the company reported a 90% jump in its net profits boosted by dividend income from its subsidiaries. It has announced a full year dividend of Rs 14, which is higher than the street’s expectation of Rs 10.

In today’s trading session, the Nifty closed below the 6120 level which was a crucial support. Going ahead, we feel that the index may touch the 6090 levels.