Indices Tanks, All Sectors Hammered
Suparna / 27 Jan 2014
Indian markets today witnessed the highest percentage fall since September 2013. Rate sensitive shares led to the decline ahead of the RBI monetary policy review tomorrow. Banking and auto shares witnessed a sharp fall.
Indian markets witnessed a huge amount of panic selling in today’s trade. All the sectoral indices were hammered badly in this scenario. As a result Nifty at the close of the day was down by 130 points at 6135 and Sensex was 426 points lower at 20707.
The advance-decline ratio on NSE was negative as the day ended with 923 shares in green and 2273 shares in the red zone.
Top Nifty Gainers: HUL gained 1.67% in today’s trade, followed by HUL, HCL Tech, Cipla and UltraTech Cement.
Top Nifty Losers: JP Associates closed the day lower by 14.03%, followed by DLF, Ranbaxy, Tata Motors and Tata Steel.
All of the sectoral indices also closed on a negative note. Bankex and Auto indices witnessed basket selling down of around 400 points each. Metals and Capital Goods were also down by 365 points and 259 points respectively. Mid-Caps and Small-Caps also saw a down-move by 180 points and 170 points respectively. IT, Healthcare and FMCG were also closed on negative note.
The Asian markets closed on a negative note. Nikkei ended lower by 385 points. Hang Seng closed 473 points down. KOSPI and Taiwan were in negative territory as well.
Buzzer: Tata Steel lost more than 5% on the bourses today and closed below the technical level of Rs 353. If the stock remains below this level, it may touch the Rs 340 mark in the next few sessions.
Nifty Futures closed below the technical level of 6160, if it remains below this level we might see more pain ahead.
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