Indices Extend Losses

The Indian markets witnessed negative trades since the morning session and closed the day on the same note. The Nifty closed the day down by 57 points at 6261 and Sensex was 201 points lower at 21063.

The advance-decline ratio on the NSE was in the negative by day’s end, with 1110 shares in green and 1993 shares in the red zone.

Top Nifty Gainers: BPCL gained 2.9% in today’s trades, followed by Bajaj Auto, HUL, Cipla and BHEL.

Top Nifty Losers: Coal India closed the day lower by 10.1%, followed by TCS, DLF, Wipro and PNB.

Most of the sectoral indices closed in negative note, IT index was the top loser for today’s session down by 246 points. Bankex and Metals indices also witnessed selling, down by 199 points and 57 points respectively. Mid-Caps and Small-Caps were also hammered badly down by 87 points and 107 points respectively. Consumer Durables, Capital Goods and Healthcare indices also closed in negative territory. However Oil & Gas and FMCG saw some gains in today’s session.

The Asian markets closed on a mixed note. Nikkei ended lower by 12 points. However Hang Seng closed 146 points up. KOSPI and Taiwan were in negative territory.

Buzzer: Wipro lost more than 3.3% on the bourses today and closed below the technical level of Rs 560. If the stock remains below this level, it may touch the Rs 535 mark in the next few sessions.

Nifty Futures closed on a dicey note at 6273. Going ahead if its comes below 6250 we may see more panic selling below this level.