Sensex Falls By 650 points, Nifty Below 5350
Suparna / 03 Sep 2013
The Indian markets witnessed an unexpected fall in the latter half of the trading session. The most affected were the stocks of banking and consumer durables, as they witnessed basket selling and crashed by more than 4% each.Having tanked by 650 points, the Sensex ended the day at 18230.The Nifty ended the day lower by 209 points at 5341.
The Indian markets witnessed an unexpected fall in the latter half of the trading session. The most affected were the stocks of banking and consumer durables, as they witnessed basket selling and crashed by more than 4% each. Having tanked by 650 points, the Sensex ended the day at 18230.The Nifty ended the day lower by 209 points at 5341. Both the indices closed lower by a heavy 3.5% each.
The market breadth ended on a negative note at the end of the day. On the NSE, 1286 shares closed in the green, while 2053 shares ended the day in red.
Top Nifty Gainers: Lupin was the highest gainer today and appreciated by 2.3%. It was followed by Coal India and Cairn India. On the Nifty, there were only three stocks to have ended the day with gains.
Top Nifty Losers: Axis Bank closed the day lower by 9.4%. It was followed by IndusInd Bank, DLF, PNB and Reliance Infra.
All of the 13 sectors ended the day with losses. Bankex was the top loser as it closed lower by a hefty 526 points. Oil & Gas and Consumer Durables also ended the day significantly lower. They lost out 303 points and 263 points respectively. Mid-caps and small-caps were down by 99 points and 49 points respectively.
On the contrary, Asian markets closed on a positive note today. The Nikkei was the top gainer as it closed higher by 405 points. The Hang Seng ended higher by 219 points. The Shanghai Composite and Taiwan also ended on a positive note.
Buzzer: Lupin gained 3.2% today as the company got the final approval from the US FDA for a generic version of one of their products. The stock closed above the technical level of Rs 840, which is indicative of a more positive move ahead.
The Nifty closed below its vital support level of 5350 today. A closing below this level is indicative of a more painful scenario ahead.
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