Sensex, Nifty Close At Lower Ends

After a negative opening, the Indian markets saw no sign of recovery in today’s session. At the closing hour Mid-Caps and Small-Caps witnessed heavy selling. As a result the Nifty ended 68 points lower at 6168 and Sensex was down by 210 points to close at 20715. Both indices closed down in the range of 1.10%.

The advance-decline ratio on the NSE remains in some negatives. 1212 shares closed in the green and 1947 shares were in red.

Top Nifty Gainers: Tata Motors closed higher by 2.7% in today’s trades, followed by Wipro, M&M, Coal India and Tata Steel.

Top Nifty Losers: JP Associates ended the day lower by 5.7%. Among the other stocks that closed in negatives were ICICI Bank, BHEL, IndusInd Bank and UltraTech Cement.

All the sectoral indices closed on a negative note. Bankex and Capital Goods indices were hammered down by 298 points and 186 points respectively. Oil & Gas, Metals and Consumer Durables indices also negative more than 50 points. Mid-Caps and Small-Caps tumbled by 80 points and 58 points respectively.  

In the Asian markets, Nikkei was the top gainer for the day, up by 61 points, and Hang Seng up by 27 points. KOSPI and Shanghai Composite closed in the red zone.

Buzzer: The top loser for the day, JP Associates, which tanked by more than 5%. The scrip closed below the technical level of Rs 55. If it continues to remain below this level, it may see more panic selling to touch the Rs 50 mark in the next few sessions.

Nifty Futures has closed below the crucial support of 6240 but hold 6200 level on closing basis. At Monday’s morning may see small recovery if sustain this level.