Nifty Down 50 points, Bankex Hammered 2.4%
Suparna / 19 Dec 2013
The markets remained under selling pressure thoughout the day and most of the index stocks crashed badly in today’s trades. Nifty ended lower by 50 points at 6166, and Sensex was 151 points down at 20708.
The Indian markets witnessed perplexing moves in the opening session and remained under selling pressure thoughout the day. Most of the index stocks crashed badly. Nifty ended lower by 50 points at 6166, and Sensex was 151 points down at 20708. Both indices closed negative in the range of 0.73%-0.81%.
The advance-decline ratio on the NSE remained lower. 1489 shares closed in the green and 1701 shares were in red.
Top Nifty Gainers: HCL Tech closed higher by 3.2% in today’s trades, followed by Maruti Suzuki, Lupin, Ranbaxy Labs and Sesa Sterlite.
Top Nifty Losers: Kotak Mahindra Bank ended the day down by 3.7%. Among the other stocks that closed in negatives were ICICI Bank, L&T, HDFC and ONGC.
Most of the sectoral indices remained in losses until closing. Bankex tanked by 314 points, Capital Goods was down by 194 points and Oil & Gas closed 104 points lower. Both Consumer Durables and Auto also closed down by around 50 points. Mid-Caps and Small-Caps were in negatives. On the other hand, IT and Healthcare saw gains of 151 points and 106 points respectively.
In Asia, Nikkei was the top gainer, up by 371 points, and Taiwan Weighted moved higher by 58 points. Straits Times and KOSPI were in nominal positives by day’s end. Only Hang-Seng closed in the red, down by 255 points.
Buzzer: ONGC lost more than 2.5% on the bourses and closed at the technical level of Rs 275. If the stock continues to remain below this level, it may touch the Rs 250 mark in the next few sessions.
Nifty Futures ended the day’s trades below the technical level of 6200. If the index remains below this level, it may see more pain ahead.
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