Bears On A Rampage On D-Street
Suparna / 16 Aug 2013
The Indian markets seemed to know only one direction today, i.e. downward, leaving investors and market watchers watching in shock. The Nifty index ended at down by 234 points and Sensex closed 770 points lower at 18598. The Asian markets also closed in the red.
The Indian markets saw a landslide fall after September 22, 2011. Bank Nifty also hit its lowest mark after a gap of around two years. The markets also witnessed an overwhelming sell-off from the FII side. The Nifty index ended at down by 234 points and Sensex closed 770 points lower at 18598. Both the indices tanked by 4%.
The advance-decline ratio ended on the negative side today. On the NSE, 1219 shares closed in green, while 2140 shares were in the red.
Top Nifty Gainers: Hero MotoCorp stayed on top of the index for today, up by 2.55%. Power Grid and HCL Tech also closed higher.
Top Nifty Losers: BHEL closed the day as the top loser, down by 10%, followed by JP Associates, Reliance Infra, Axis Bank and DLF.
The sectoral indices all closed in the red. Bankex was the top loser, down by 634 points. Consumer Durables and Metals lost 539 points and 409 points respectively. Both Oil & Gas and Capital Goods also crashed around 400 points. Mid-Caps and Small-Caps dipped by 125 points for the day.
The Asian markets closed on a negative note today. Nikkei was the top loser, down by 102 points and Hang Seng closed negative by 21 points. Shanghai Weighted and Straits Times also ended lower.
Buzzer: BHEL was the strongest loser among the 50 NSE stocks. The scrip made a low of Rs 104.65, and closed at Rs 106, its lowest level since October 2005.
19 out of the 30 stocks on the BSE index made a low below their respective 200-day EMA levels in today’s trading session.
The Nifty Futures have given a bearish pattern on the daily chart, and more pain may be seen ahead.
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