Profit Booking Takes Indices Southward
Suparna / 11 Mar 2014
The markets closed on a negative note, with Metals, Bankex and Auto stocks seeing a decline. Nifty closed negative by 25 points at 6511 and Sensex was 108 points lower by 21826. Tata steel was the biggest loser, closing the day lower by 5.6%.
The Indian markets witnessed some profit booking trade in today’s trading session. Most of the sectoral indices closed on the lower side. Metal stocks slumped followed by Auto, Bankex and Healthcare. As a result, Nifty closed negative by 25 points at 6511 and Sensex was 108 points lower by 21826.
The advance-decline ratio on NSE was on the negative side as the day ended with 1489 shares in green and 1860 shares in the red zone.
Top Nifty Gainers: DLF gained 3.9% in today’s trade, followed by Tata Power, IDFC, Grasim and IndusInd Bank.
Top Nifty Losers: Tata Steel closed the day lower by 5.6%, followed by Hindalco, Sesa Sterlite, Sun Pharma and GAIL.
Most of the sectoral indices closed on the negative side. Metals witnessed perpendicular fall by 318 points. Healthcare, Bankex and Auto were also hammered, around 80 points each. Capital Goods, Consumer Durables and FMCG also closed in the negative territory. Mid-Caps and Small-Caps also witnessed a mixed trade.
All the major Asian markets closed the day on a positive note. The Nikkei market closed, up 103 points, whereas Hang Seng closed up by 4 points. KOSPI and Shanghai Composite also closed in the positive territory.
Buzzer: Tata Power was up more than 3.5% on the bourses today and closed near the technical level of Rs 80. If the stock opens above this level, it may touch the Rs 90 mark in the next few sessions.
Nifty Future has the major vital supports on the lower side at 6520/6480. Above these levels, Index may see range bound trade.
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