Bankex Drags Markets Lower
Suparna / 17 Dec 2013
Many traders squared off their positions today as some big triggers are expected in the market going ahead. As a result, Nifty ended at today’s low, down 15 points at 6139, and Sensex lost 47 points to close at 20612. Bankex tanked by 165 points.
The Indian markets were trading in a small range, though in positives, till mid-session. However, Bankex buckled under selling pressure. Many traders squared off their positions as some big triggers are expected in the market going ahead. As a result, Nifty ended at today’s low, down 15 points at 6139, and Sensex lost 47 points to close at 20612. Both indices were in negatives in the range of 0.23%-0.25% by closing.
The advance-decline ratio on the NSE remained in negative. 1463 shares closed in the green and 1720 shares were in red.
Top Nifty Gainers: Ranbaxy Labs closed higher by 5.2% in today’s trades, followed by Bharti Airtel, Cipla, Sun Pharma and NMDC.
Top Nifty Losers: HDFC Bank ended the day lower by 3.9%. Coal India, HDFC, NTPC and Bajaj Auto were among the other stocks that closed in negatives.
Of the sectoral indices, Bankex was strongly hammered by 165 points. Oil & Gas and Auto also moved lower by 45 points and 5 points respectively. Mid-Caps and Small-Caps closed the day lower. Among the gainers, Healthcare surged by 143 points. Consumer Durables, FMCG and Capital Goods also closed on a positive note.
Most of the Asian markets closed in the green. Nikkei was the top gainer for the day, up by 125 points, and Taiwan Weighted was higher by 39 points. Straits Times and KOSPI also remained in gains. However, Hang Seng closed 45 points in the negative.
Buzzer: Ranbaxy Labs gained more than 5% on the bourses today. The scrip closed at the technical level of Rs 440. If the stock continues to remain above this level, it may touch the Rs 470 mark in the next few sessions.
Nifty Futures closed at the major support of 6150. We could see the index trading in wide range tomorrow.
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