Volatile Markets Close On A Flat Note

The Indian markets saw a sell-off in the evening session. They recovered some losses towards the end and finally closed on a flat note. The Nifty was down by 2 points to close the day at 5921 and Sensex closed at 19,519, down by 48 points. Both the indices ended in red by 0.04% and 0.25%.

The advance–decline ratio ended on a negative side at the end of day. On the NSE, 640 shares closed in green, while 747 shares ended the day in red.

Top 5 NSE Gainers: HCL Tech closed the day with gains of 2.8% as the top gainer on the NSE, followed by Axis Bank, Reliance Infra, Bank of Baroda and UltraTech Cement.

Top 5 NSE Losers: Bharti Airtel ended the day as the top loser on the NSE, down by 2.4%, followed by NTPC, Sun Pharma, Lupin and GAIL.

Nine out of the 13 sectors ended on a negative note. Bankex was the top gainer for the day, up by 116 points; Capital Goods and Mid-Cap were also up by 26 points and 7 points respectively. Healthcare and Oil & Gas indices are the top losers, down by 107 points and 61 points respectively.

The Asian markets closed on a negative note. Hang Seng was the top loser, down by 230 points. Nikkei ended in red, declining by 110 points, while China’s Shanghai Composite, Straits Times, and Taiwan indices ended on a negative note.
Buzzers: Reliance Communications touched a 52-week high at Rs 119.15. The stock is currently at Rs 118.10 and broke its strong resistance at Rs 115.

Reliance Industries shares slipped 1% despite chairman Mukesh Ambani (at 39th annual general meeting) saying that he will invest Rs 1.5 lakh crore over the next 3 years in the company.

As we had mentioned, Nifty held the 5880 level. We saw some recovery from the lower level, up to the 5950 level.