Nifty Ends Below 5900

In the last hours of trade, the markets, which were trading below yesterday’s closing, witnessed some recovery to close flat on a mixed note. The rupee plunged to a new Low and Mid-Caps were battered in a volatile session. The Nifty took a U-turn and sank below the 5900 level to close at 5878, while the Sensex closed at 19441 up by 11 points. Both the indices ended lower by 0.05% and 0.06% respectively.

The advance-decline ratio ended on the negative side at the end of day. On the NSE, 435 shares closed in the green, while 959 shares ended the day in red.

Top 5 Nifty Gainers: ACC closed the day as the highest gainer, up by 2%, followed by UltraTech Cement, Infosys, HDFC and NTPC.

Top 5 Nifty Losers: Jindal Steel ended lower by 4.2%. BHEL, BPCL, IndusInd Bank and Maruti Suzuki were the others in losses.

9 out of the 13 sectors ended on a negative note. Banks were the strongest losers, down by 157 points, while Consumer Durables and, Metals have dropped 153 points and 80 points respectively. The Mid-Cap index has lost 103 points, while Small-Caps were down 56 points.

The Asian markets closed the day in the green. Nikkei was the top gainer, up by 636 points. The Hang Seng gained 39 points. Others like the Shanghai Composite, Straits Times and Taiwan Weighted were also in positives.

Buzzers: The shares of Opto Circuits saw a free fall, dropping by as much as 27% to Rs 20.80, amid speculations that financiers may have dumped the shares of the company pledged with them.

The Nifty could not manage to stay above 5900 and closed below its crucial support level of 5880.