Indices Plunge, Bankex Cracks
Suparna / 23 Sep 2013
The scenario in the Indian markets remained disappointing today. While Bankex saw most of the selling in the morning, Capital Goods, Oil & Gas and Auto also dragged the indices. The Nifty ended down by 122 points to close at 5889 and Sensex closed 362 points lower at 19900.
The Indian markets continued to fall in today’s trading session. While Bankex saw most of the selling in the morning, Capital Goods, Oil & Gas and Auto also dragged the indices after mid-session. The scenario was disappointing overall. The Nifty ended down by 122 points to close at 5889 and Sensex closed 362 points lower at 19900. Both the indices ended on the lower side in the range of 1.79%-2.05%.
The advance-decline ratio was in negatives in the closing session. On the NSE, 1476 shares closed in green, while 1857 shares ended the day in red.
Top 5 Nifty Gainers: Sesa Goa closed with the highest gains on the index, up by 3.3%. HCL Tech, Hindalco, Coal India and Hero MotoCorp were among the others that ended higher.
Top 5 Nifty Losers: Bank of Baroda crashed by 6.96% today, and Axis Bank, DLF, Axis Bank and PNB were among the other stocks that ended in losses.
Most of the sectoral indices closed in the red zone. Bankex lost 530 points by day’s end and Capital Goods was down by 264 points. Auto and Oil & Gas were both lower by around 130 points. Consumer Durables and Healthcare indices also saw down-moves. The Mid-Cap and Small-Cap indices dipped by 72 points and 31 points respectively.
In the Asian markets, Hang Seng closed down by 130 points and Straits Times ended 23 points lower.
Buzzer: Amid this negative scenario, Sesa Goa moved up by 3.3% today. The stock made a bullish crossover and closed above the Rs 180 level. If the scrip continues to trade higher, it could break its 52-week high at the Rs 205 level.
Nifty Futures managed to close above the psychological level of 5900, but the selling volumes indicate more of a downside.
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