Bears Maintain Their Grip
Suparna / 30 Jul 2013
The Nifty ended lower by 76 points at 5755 and Sensex was 76 points down at 19348. Most of the sectoral indices ended in the red, with Oil & Gas taking the strongest beating.
The bears have been hammering the indices for 3 consecutive days and the Indian markets witnessed a deep cut in the closing session today. The Nifty ended lower by 76 points at 5755 and Sensex was 76 points down at 19348. The indices lost 1.31% and 1.25% respectively.
The advance-decline ratio ended on the negative side. On the NSE, 1187 shares closed in green, while 2125 shares ended the day in the red.
Top 5 Nifty Gainers: Jindal Steel closed the day with the top gains, up by 1.48%. IDFC, Infosys, Sun Pharma and L&T were among the others that closed higher.
Top 5 Nifty Losers: BPCL was down by 8.55%, followed by Reliance Infra, Ranbaxy, ONGC and DLF.
Most of the sectoral indices ended in the red. Oil & Gas was the top loser, down by 340 points, Auto dropped 220 points, Bankex was 150 points lower and FMCG lost 136 points. Mid-Caps and Small-Caps were both down by more than 100 points.
The Asian markets, though, closed on a positive note. The Nikkei was the strongest gainer, up 208 points, and Hang Seng was up 103 points.
Buzzer: BPCL plummeted by over 8%. The stock made a new 52-week low of Rs 307.40 in today’s session.
Earlier today, the RBI’s announcement of leaving the policy rates unchanged saw the INR appreciating by 1.9% to 60.81.
The Nifty has broken and closed below its strong support of 5780. If the index opens below this level for tomorrow’s session, it may touch 5700.
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