Indices Crack on Rupee Fall

The Indian markets tanked after the mid-market session today. Both the indices fell after the rupee continued to move downward. The Sensex tumbled by over 500 points from the day’s high and ended 340 points down at 17905. The Nifty ended 98 points down at 5302.

The advance-decline ratio ended on the negative side in the closing session. On the NSE, 1382 shares closed in green, while 1939 shares ended the day in red.

Top 5 Nifty Gainers: IndusInd Bank closed the day with the top gains on the NSE, up by 6.39%. BHEL, HDFC, HDFC Bank and Power Grid Corporation were the others that ended higher.

Top 5 Nifty Losers: Ranbaxy Labs was the top loser, down by 13.09%, followed by Sesa Goa, JP Associates, ACC and Bharti Airtel.

11 of the 13 indices ended in the red. Oil & Gas and Metals were the top losers for the day, down by 284 points and 269 points respectively. Healthcare dropped 224 points and FMCG lost 201 points. Auto and Capital Goods both closed down by over 150 points. Mid-Caps was down by 66 points and Small-Caps ended 42 points lower.

In the Asian markets, the Nikkei ended higher by 27 points. On the other hand, the Hang Seng closed down by 152 points. Straits Times and KOSPI also ended on a negative note.

Buzzers: Sesa Goa rose in yesterday’s trading session but lost all its gains in today’s session. The scrip broke its important support level of Rs 140 and also closed below this level. If the stock remains around this level, it may see a further downfall upto Rs 125.

Reliance Capital fell by more than 5% and made its 52-week low at Rs 295.25. In the last few trading sessions, we had seen a couple of bouncebacks from the Rs 300 level, but the stock broke all its technical levels in today’s trading session.

The Nifty index has given a bearish breakdown at the 5340 level and closed around 5300, indicating the weak scenario continuing ahead.