Nifty Closes Below 6000
Suparna / 13 Nov 2013
The Indian markets witnessed panic selling after mid-session today, with Bankex, FMCG and IT noticeably weak. Nifty closed 28 points negative at 5989 and Sensex was down by 87 points at 20194. The Asian markets were also beaten down.
The Indian markets witnessed panic selling after mid-session today. The negative vibe was mainly seen on the Bankex, FMCG and IT indices. Nifty closed 28 points negative at 5989 and Sensex was down by 87 points at 20194. Both the indices ended lower in the range of -0.43%-0.47%.
On the NSE, the advance-decline ratio was on the negative side, with 1438 shares closing in the green and 1794 shares in the red.
Top 5 Nifty Gainers: Hindalco closed with the highest gains on the index, up by 2.4%. ACC, M&M, Tata Motors and Sun Pharma were among the others that ended the day higher.
Top 5 Nifty Losers: IndusInd Bank closed lower by 2.7% today, followed by GAIL, Sesa Sterlite, Cipla and BPCL.
Most of the sectoral indices closed in the red. Bankex and FMCG were down by over 75 points and 63 points respectively. IT lost 55 points and Oil & Gas closed 45 points lower. Capital Goods, Mid-Caps and Small-Caps also closed lower by around 40 points each. Among those in gains were Auto, Consumer Durables and Metals.
All the Asian markets were hammered today. Hang Seng was 437 points lower by day’s end, while Nikkei lost 21 points. Straits Times and Shanghai Composite also closed on a negative note.
Buzzer: The stock of IndusInd Bank saw bulk selling on the bourses after mid-session. It made an intraday low of Rs 398 and closed around the technical level of Rs 400. If the stock opens below this level tomorrow, it may touch the Rs 390 mark in the next few trading sessions.
Nifty Futures has closed around the crucial support level of 6000. If the index breaks this level, it may see more pain ahead.
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