Nifty Sees Profit Booking

The BSE Sensex and Nifty remained choppy for most of today's trades. After opening on a negative note, the markets tried to cross yesterday's closing but failed to do so in a decisive way. In the last one hour of trading, the indices saw heavy selling pressure, which saw the Nifty and Sensex closing in negatives. Nifty closed 80.45 points lower at 6122.9, and Sensex closed at 20635, down by 255.7 points. Both the indices ended lower in the range of 1.3%-1.22%. The Nifty saw profit booking after surging in the past three trading sessions, as investors remained cautious ahead of the Fed's meeting minutes announcement.

The advance-decline ratio was almost 1:1 for both the markets (Sensex and Nifty).

Top Nifty Gainers: Coal India's shares remained the top gainers for the day, closing up by 1.83%. Sesa Sterlite, Tata Power and ACC were among the others that ended the day higher.

Top Nifty Losers: ICICI Bank closed lower by 3.57% today, followed by JP Associates, BPCL, Hindalco and IndusInd Bank.

Among the sectoral indices, all the indices barring Metal closed in the red. The CNX PSU Bank index was the top loser, down by 2.02%. Other major losers included Bank Nifty and CNX Auto.

In the Asian markets, the Nikkei continued with its losses and closed 50.48 points lower today. KOSPI also closed lower by 14 points. Hang Seng and Shanghai Composite closed in green.

The Nifty broke the crucial level of 6150 in today's trades, and the next support comes at 6080. If the index breaks this level, we may see further selling.