Indices Plunge At Closing
Suparna / 12 Dec 2013
After a negative opening, the Indian markets saw its losses extend at closing. The sectoral indices closed in negatives, with most of the selling seen in Auto, Bankex and Metals. Tata Motors ended as the biggest loser for the day.
After a negative opening, the Indian markets saw its losses extend at closing. The sectoral indices closed in negatives, with most of the selling seen in Auto, Bankex and Metals. Nifty ended 70 points lower at 6237 and Sensex was down by 245 points to close at 20925. Both indices closed down in the range of 1.12%-1.16%.
The advance-decline ratio on the NSE remains in some negatives. 1427 shares closed in the green and 1838 shares were in red.Top Nifty Gainers: Tata Power closed higher by 3.9% in today’s trades, followed by HDFC, JP Associates, Ranbaxy Labs and GAIL.
Top Nifty Losers: Tata Motors ended the day lower by 4.5%. Among the other stocks that closed in negatives were Ambuja Cements, ONGC, Coal India and IndusInd Bank.
All the sectoral indices closed on a negative note. Auto was down by 270 points, Bankex dipped 190 points, and Metals and Oil & Gas both moved lower by around 120 points. Capital Goods, Healthcare and IT remained under selling pressure. Mid-Caps and Small-Caps also closed on a negative note.
In the Asian markets, Nikkei was the top loser for the day, down by 170 points, and Hang Seng lost 120 points. Taiwan Weighted, KOSPI and Shanghai Composite all closed in the red zone.
Buzzer: The top loser for the day, Tata Motors, tanked after JLR’s announced its plans to increase capex. The scrip closed below the technical level of Rs 365. If it continues to remain below this level, it may see more panic selling to touch the Rs 350 mark in the next few sessions.
Nifty Futures has closed around the crucial support level of 6250. Traders will eye this level for tomorrow’s session.
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